Unfair Trade Practice


Definition of "Unfair trade practice"

Miguel C Martinez
Miguel C Martinez Spring Hill Real Estate, Llc.

In insurance, fraudulent or unethical practice that is illegal under state law. States may fine or revoke the licenses of agents and brokers for unfair trade practices, including misrepresentation, false advertising, misappropriation of policy-holder's money, and twisting. Many states have adopted the NAIC model Unfair Trade Practices Act.

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