New Risk Technologies Force Review of Long-Standing Prohibitions
In the R Street Institute’s R Street Shorts No. 8, Ian Adams writes, “If giving away a service that is completely incidental to an insurance transaction is deemed illegal, then in a market of increasingly intertwined services, firms essentially are barred from offering insurance and non-insurance products simultaneously.”
Did you get that? Do you have a problem with it? Adams does.
Adams, R Street Institute’s western region director, is among the growing number of voices calling for reform or repeal of state laws barring rebates and other forms of non-insurance consideration from insurance transactions.
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Beyond that, agents and brokers are wise to be wary about “offering insurance and non-insurance products simultaneously,” to quote Ian Adams’s line at the outset of this post.
