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
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