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MS HB640

Bill

Official Source

Status

Failed

2/23/2016

Primary Sponsor

David Baria

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • Prohibits insurance companies from paying bonuses or extra compensation to agents that are contingent on the number of claims filed and/or paid on an insurance policy
  • Prohibits insurance companies from paying bonuses or extra compensation to agents that are contingent on the actual amount of claims paid on an insurance policy
  • Applies to both direct and indirect payments of such bonuses or compensation
  • Effective date: July 1, 2016

Legislative Description

Insurance companies; prohibit payment of loss ratio bonus to agents.

Last Action

Died In Committee

2/23/2016

Committee Referrals

Insurance2/8/2016

Full Bill Text

No bill text available