Rule 20:06:10:14 Identity of insurer and agent.
of insurer and agent. Health and life insurers or agents must be identified
in advertisements or solicitations as follows:
(1) The name of the actual
insurer or the agent, if any, and the form number of policies specifically advertised
must be clearly identified in all advertisements or solicitations. An
advertisement or solicitation may not use a trade name, insurance group
designation, name of the parent company of the insurer, name of a particular
division of the insurer, service mark, slogan, symbol, or other device which
would mislead or deceive or tend to mislead or deceive as to the true identity
of the insurer;
(2) No advertisement or
solicitation may use any combination of words, symbols, or physical materials
which by their content, phraseology, shape, color, or other characteristics are
so similar to combinations of words, symbols, or physical materials used by
agencies of the federal government, this state, or local government or confuse
or mislead prospective insured's into believing that the advertisement or
solicitation is in some manner connected with an agency of local government,
the state, or the federal government;
(3) An agent shall inform
the prospective purchaser, before beginning a health or life insurance sales
presentation, that the agent is acting as a health or life insurance agent and
shall identify, in writing, the agent and the complete name of the insurer
which the agent is representing. An agent's business card is acceptable if it
complies with this subdivision and this chapter. In sales situations in which
an agent is not involved, the insurer shall inform the prospective purchaser of
its complete name in writing;
(4) An advertisement or
solicitation may not create the impression directly or indirectly that the
insurer, its financial condition or status, or the payment of its claims or the
merits, desirability, or advisability of its policy forms or kinds of plans of
insurance are approved, endorsed, or accredited by a division or agency of a municipality,
the state, or the federal government.
4 SDR 6, effective August 9, 1977; 12 SDR 151, 12 SDR 155, effective July 1,
1986; 15 SDR 143, effective March 28, 1989; 27 SDR 54, effective December 4,
2000; 38 SDR 116, effective January 10, 2012.
Authority: SDCL 58-33A-7.
Implemented: SDCL 58-33-5, 58-33-6, 58-33-7, 58-33A-8, 58-33A-10.
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