Insurtech Briefly Podcast - Anti-Rebating Statutes (Part 2)
Insurtech Briefly Podcast - Anti-Rebating Statutes (Part 1)
In this episode, Robert Tomilson and Scott Galla continue their discussion of anti-rebating statutes. DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal...more
In this episode, Robert Tomilson and Scott Galla explore the purpose of anti-rebating statutes, regulations that bar insurance producers and agents from giving gifts or sharing commission. DISCLAIMER – No information...more
Prescription drug prices are one of the biggest drivers of rising health care costs. To address this issue, the Trump administration issued its Executive Order on Lowering Prices for Patients by Eliminating Kickbacks to...more
For decades, life insurance has been viewed as just providing benefits to those named as the beneficiary. As we enter the new decade, insurers are changing this narrative....more
Since mid-2018, the NAIC’s Innovation and Technology (EX) Task Force (Innovation TF) has been considering how state anti-rebating laws impede insurers and producers’ ability to offer innovative products and services to...more
As part of our insurtech practice, we are frequently asked to advise on state insurance anti-rebating laws. These laws prohibit insurance companies or brokers from providing policyholders with anything of value (above certain...more
• Zenefits’ practice of providing free software to the general public constitutes an improper rebate under the state’s anti-rebate provisions • Ruling could have significant impact on brokers’ ability to provide...more
• Washington Administrative Law Judge rules that Zenefit’s provision of free software to general public does not infringe on the state’s anti-rebate laws due to value it provides to Washington businesses; however,...more
• Recent shifts in insurance regulation are driven by consumer demand. • Traps for the unwary mean that insurtech startups should engage with regulators early and often. • Brokers need to know how to navigate the...more
The practice of rebating has long been prohibited in nearly every state across the country. Despite this long-standing and widespread prohibition, the full scope of services that are and are not permissible under each state’s...more
Key Points - - The Washington Insurance Commissioner recently found that Washington’s anti-rebating and inducement laws prohibit California-based insurance producer Zenefits from offering valuable software functions...more
In Liu v. Siemens A.G., No. 13-cv-4385, 2014 WL 3953672 (2d Cir. Aug. 14, 2014), the Second Circuit affirmed that the anti-retaliation provision in Section 922 of Dodd-Frank does not apply extraterritorially. This post...more
In a thoughtful amendment to Washington’s Anti-Rebate Statute, the Legislature has aligned the parameters of chapter 19.68 RCW with those of the federal Anti-Kickback Statute, granting greater protection for EHR donation...more
In 1949, the Washington Legislature enacted what has become known as the “anti-rebate statute,” codified as RCW Chapter 19.68. Rep. Eileen Cody recently asked the state Attorney General (AG)’s Office whether this statute...more