20-453. Programs for purchase by policyholders of securities of insurance companies Notwithstanding the provisions of section 20-452 and notwithstanding any other provision of law, domestic life insurers, whether of the stock, mutual, fraternal or limited capital stock type, shall not be prohibited from engaging in a program whereby the holders of their life insurance policies […]
20-454. Programs for purchase by policyholders of securities of companies not engaged in insurance Notwithstanding the provisions of section 20-452 and notwithstanding any other provision of law, domestic life insurers, whether of the stock, mutual, fraternal or limited capital stock type that on January 1, 1955 are engaged pursuant to the requirements of title 44, […]
20-455. Interlocking ownership or management; multiple directorship A. Any insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer or insurers, or have a common management with any other insurer or insurers, unless such retention, investment, acquisition or common management is inconsistent with any other […]
20-456. Cease and desist order for defined or prohibited practices; civil penalty A. If after a hearing the director finds that the person charged has engaged or is engaging in any act or practice defined in or prohibited under this article as an illegal or unfair method of competition or an unfair or deceptive act […]
20-457. Premature disposal of premium notes prohibited An insurer and its insurance producer shall not hypothecate, sell or dispose of a promissory note received in payment of any part of a premium on a policy of insurance applied for prior to the delivery of the policy.
20-458. Fraudulent statement in application; classification Any life insurance producer, examining physician or other person who knowingly makes a false or fraudulent statement or representation in or relative to an application for life or disability insurance, or who makes any such statement to obtain a fee, commission, money or benefit is guilty of a class […]
20-459. Deferred dividends; life On and after January 1, 1961, no person shall make or issue or offer to make or issue any contract of life insurance or of life annuity which provides that any premiums, dividends, excess interest, mortality savings, gains from lapses, loadings, or earnings and accumulations therefrom, be payable only to those […]
20-460. Free choice of insurance producer No casualty or property insurance company, including any subsidiary of any such company, may offer any insurance program in this state to exclusive insurance producers without offering the same insurance program through all of its other authorized insurance producers authorized for similar types of insurance coverage with the exception […]
20-461. Unfair claim settlement practices A. A person shall not commit or perform with such a frequency to indicate as a general business practice any of the following: 1. Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue. 2. Failing to acknowledge and act reasonably and promptly upon communications with respect to […]
20-462. Timely payment of claims A. From and after July 15, 1986 any first party claim not paid within thirty days after the receipt of an acceptable proof of loss by the insurer which contains all information necessary for claim adjudication shall be required to pay interest at the legal rate from the date the […]
20-463. Fraud; injunction; penalties; restitution; definitions A. It is a fraudulent practice and unlawful for a person to knowingly: 1. Present, cause to be presented or prepare with the knowledge or belief that it will be presented an oral or written statement, including computer generated documents, to or by an insurer, reinsurer, purported insurer or […]
20-463.01. Unlawful practices; auto glass repair; policyholders; insurers A. It is an unlawful practice for a person who sells or repairs auto glass to knowingly: 1. Submit a false claim to an insurer for auto glass repair or replacement or for related services: (a) If the services were not provided. (b) Showing work performed in […]
20-463.02. Advanced driver assistance system; auto glass repair; notice; violations; civil penalties; definitions A. If a vehicle is equipped with an advanced driver assistance system, an auto glass repair or replacement facility that conducts glass repair, replacement or recalibration shall inform the customer both: 1. If a recalibration of that system is required. 2. If […]
20-464. Prohibiting payment for services to persons other than the assignee A. If an insured assigns to a health care provider performing services covered by the contract payment for benefits under a disability insurance contract, a group disability insurance contract or a blanket disability insurance contract, the contract does not prohibit assignments and the assignment […]
20-465. Fees; insurance producers; definition A. An insurance producer shall not charge or receive any fee or service charge in addition to the premium in connection with the transaction of insurance, unless both of the following apply: 1. The fee or service charge and the specific services for which it is charged are disclosed and […]
20-466. Fraud unit; investigators; peace officer status; powers; information sharing; assessment A. The fraud unit is established in the department of insurance and financial institutions. The director of the department of insurance and financial institutions shall appoint an individual to operate the fraud unit in conjunction with operating the automobile theft authority established by section […]
20-466.01. Fraud; classification A person who violates section 20-463 or 20-463.01 with the intent to injure, defraud or deceive an insurer is guilty of a class 6 felony.
20-466.02. Injunction; restitution; civil penalties; costs A. On request by the director, the attorney general may seek and obtain in an action in the superior court an injunction that prohibits a person from engaging in practices or doing any acts that violate section 20-463, 20-463.01 or 23-1028. The court may enter any order or judgment […]
20-466.03. Notice of penalty for false or fraudulent claims; definition A. The claims forms provided by an insurer to an insured or any other person for filing a notice or making a claim in connection with a policy or contract issued by the insurer shall include in substance the following statement in at least twelve […]
20-466.04. Referrals to other licensing agencies; definition A. The director shall forward to the appropriate licensing agency the name of any person who is convicted of, enjoined from or penalized for violating section 20-463 or 23-1028. The director shall include any information the director believes is material to the case. B. A person whose name […]
