(a) Unfair or deceptive acts or practices.--Except as
otherwise expressly provided by law, each of the following is
deemed to be an unfair or deceptive act or practice in the
business of insurance:
(1) Knowingly permitting, offering to make or making an
insurance policy, or an agreement as to the insurance policy,
other than as plainly expressed in the insurance policy that
is issued.
(2) Paying, allowing or giving, or offering to pay,
allow or give, directly or indirectly, as inducement to an
insurance policy, any of the following not specified in the
insurance policy:
(i) A rebate of premiums payable on the insurance
policy.
(ii) A special favor or advantage in the dividends
or other benefits on the insurance policy.
(iii) Valuable consideration or inducement.
(3) Giving, selling or purchasing, or offering to give,
sell or purchase, as inducement to an insurance policy, any
of the following not specified in the insurance policy:
(i) Stocks, bonds or other securities of a company
or other corporation, association or partnership.
(ii) Any dividends or profits accrued on the items
described in subparagraph (i).
(iii) Anything of value whatsoever.
(b) Construction.--Nothing in subsection (a) shall be
construed as including within the definition of discrimination
or rebates any of the following practices:
(1) In the case of an insurance policy involving life
insurance or an annuity, paying bonuses to policyholders or
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