Florida Regulations 69O-156.111: Use of Statistics
Current as of: 2024 | Check for updates
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(1) An advertisement relating to the dollar amounts of claims paid, the number of persons insured, or similar statistical information relating to any insurer or policy or contract shall not use irrelevant facts, and shall not be used unless it accurately reflects all of the relevant facts. Such an advertisement shall not imply that such statistics are derived from a policy or contract advertised unless such is the fact, and when applicable to other policies or contracts or plans shall specifically so state.
(a) An advertisement shall specifically identify the policy to which statistics relate and, where statistics are given which are applicable to a different policy, it must be stated clearly that the data do not relate to the policy being advertised.
(b) An advertisement shall not contain statements which are untrue in fact, or by implication misleading, with respect to assets, corporate structure, financial standing, age or relative position of the insurer in the insurance business.
(2) An advertisement shall not represent or imply that claim settlements by the insurer are “”liberal”” or “”generous””, or use words of similar import, or state or imply that claim settlements are or will be beyond the actual terms of the contract. An unusual amount paid for a unique claim for the policy advertised is misleading and shall not be used.
(3) The source of any statistics used in an advertisement shall be identified in such advertisement.
Rulemaking Authority 624.308(1), 626.9611 FS. Law Implemented 624.307(1), 626.9541(1)(a), (b), (e), (k), (l), 626.9641(1) FS. History-New 6-12-88, Formerly 4-46.010, 4-156.111.
Terms Used In Florida Regulations 69O-156.111
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
(b) An advertisement shall not contain statements which are untrue in fact, or by implication misleading, with respect to assets, corporate structure, financial standing, age or relative position of the insurer in the insurance business.
(2) An advertisement shall not represent or imply that claim settlements by the insurer are “”liberal”” or “”generous””, or use words of similar import, or state or imply that claim settlements are or will be beyond the actual terms of the contract. An unusual amount paid for a unique claim for the policy advertised is misleading and shall not be used.
(3) The source of any statistics used in an advertisement shall be identified in such advertisement.
Rulemaking Authority 624.308(1), 626.9611 FS. Law Implemented 624.307(1), 626.9541(1)(a), (b), (e), (k), (l), 626.9641(1) FS. History-New 6-12-88, Formerly 4-46.010, 4-156.111.