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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 14. Insurance |
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Agency 5. State Corporation Commission, Bureau of Insurance |
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Chapter 41. Rules Governing Advertisement of Life Insurance and Annuities |
Section 140. Jurisdictional licensing
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A. An advertisement that is intended to be seen or heard beyond the limits of the jurisdiction in which the insurer or agent is licensed shall not imply licensing beyond those limits.
B. An advertisement may state that an insurer or agent is licensed in the state where the advertisement appears, provided it does not exaggerate that fact or suggest or imply that competing insurers or agents may not be so licensed.
C. An advertisement shall not create the impression that the insurer, its financial condition or status, the payment of its claims, or the merits, desirability, or advisability of its policy forms or kinds of plans of insurance are recommended or endorsed by any governmental entity. However, where a governmental entity has recommended or endorsed a policy form or plan, that fact may be stated if the entity authorizes its recommendation or endorsement to be used in an advertisement.
D. An advertisement shall not represent or imply that any financial ratio, illustrative material or advertisement, including pictures, diagrams, charts, projections, or other material, has been approved or sanctioned by the commission, unless that is a fact.
Historical Notes
Derived from Volume 27, Issue 14, eff. July 1, 2011.