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This entry was published on 2014-09-22
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Withdrawal of approval of policy forms
Insurance (ISC) CHAPTER 28, ARTICLE 32
§ 3202. Withdrawal of approval of policy forms. The superintendent
may, in accordance with section three thousand one hundred ten of this
chapter, withdraw an approval previously given to a policy form pursuant
to section three thousand two hundred one of this article. The
superintendent may also withdraw an approval in the case of any such
policy form (i) pertaining to accident and health insurance, if the
benefits provided therein are unreasonable in relation to the premium
charged, or if it contains provisions which encourage misrepresentation
or are unjust, unfair, inequitable, misleading, deceptive, contrary to
law or to the public policy of this state, or (ii) pertaining to life
insurance, annuity contract, group annuity certificate, or funding
agreement, if in his judgment the use of such form would be prejudicial
to the interests of policyholders or members, or it contains provisions
which are unjust, unfair or inequitable.