Law360 Publishes Hanson, Roberts Article on Washington State Insurance Regulations

WASHINGTON, Feb. 17 -- Akin Gump Strauss Hauer and Feld, a law firm, issued the following news release:

Law360 has published the article "Debating Anti-Rebate And Inducement Laws In Washington," written by Akin Gump litigation partner Shawn Hanson and staff attorney Crystal Roberts. The article discusses a prohibition in the state of Washington against insurers and insurance producers "from offering to pay to an insured any rebate or any other valuation consideration not expressly provided for in the insurance policy as an inducement to purchasing insurance."

Hanson and Roberts note there are some exceptions to this rule and several states have issued guidance clarifying their own anti-rebating and inducement statutes. In November 2016, however, they write that the Washington Insurance Commissioner "found that Washington anti-rebating and inducement laws prohibit a licensee, specifically California-based insurance producer Zenefits, from offering valuable software functions or other valuable benefits for free, or at less than fair market value, to the public."

The article proceeds to discuss a bill in the Washington Senate that would amend the state's anti-rebating and inducement laws "to allow an insurer or insurance producer to offer goods or services, whether or not they are directly related to an insurance contract, for free or for less than fair market value, so long as the receipt of the goods or services is not contingent upon the purchase of insurance." Hanson and Roberts outline the support and opposition to the bill, concluding that further developments are expected in the coming weeks.

To read the full article, please click here: https://www.akingump.com/images/content/5/5/v2/55723/Debating-Anti-Rebate-And-Inducement-Laws-In-Washington.pdf

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