760 Ind. Admin. Code 1-18-9
Authority: IC 27-1-3-7
Affected: IC 27-4-1-4
Sec. 9.
USE OF STATISTICS. An advertisement relating to the dollar amounts of claims paid, the number of persons insured, or similar statistical information relating to any insurer or policy shall not be used unless it accurately reflects all of the relevant facts. Such an advertisement shall not imply that such statistics are derived from the policy advertised unless such is the fact.
Interpretation of Section B 6 [this section]
If the term "loss ratio" is quoted, it should be based on (a) premiums received and benefits paid, or (b) premiums earned and losses incurred.
An advertisement representing the dollar amounts of claims paid must also indicate the period over which such claims have been paid.
760 IAC 1-18-9