Insurance Law 3202 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 3201 Approval of life, accident and health, credit unemployment, and annuity policy forms up ARTICLE 32 Insurance Contracts - Life, Accident and Health, Annuities next SECTION 3203 Individual life insurance policies; standard provisions as to contractual rights and responsibilities of policyholders and insurers Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 3202 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.