31 Pa. Code § 87.4 - Charter policy prohibited
(a)
Charter policies are an unfair method of competition. They purport to offer
certain benefits which are not authorized by statute and are without reasonable
expectation of achievement. The policies misrepresent the responsibility and
obligation of an insurance company for the equitable distribution of dividends
or abatement of premiums.
(b) A
charter policy may not be approved for use and a charter policy heretofore
approved may not be issued or delivered in this Commonwealth on or after
February 26, 1968.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.