The Unfair Trade Practices Act
In 1947, the National Association of Insurance Commissioners (NAIC) first proposed a model Unfair Trade Practices Act. The Unfair Trade Practices Act, combined with the Unfair Claims Settlement Practices Act, works to regulate the methods of performing the business of insurance and insurance claims. Since that time, under various revisions, the Unfair Trade Practices Act has been adopted by almost every jurisdiction in the United States. (See Part II Appendix 14D for a list of states that have adopted the Unfair Trade Practices Act.) Starting in 1972, the NAIC proposed a Model Unfair Claims Settlement Practices Act.
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