507B.3  Unfair competition or unfair and deceptive acts or practices prohibited.

No person shall engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to section 507B.6 of this chapter to be, an unfair method of competition, or an unfair or deceptive act or practice in the business of insurance.

The commissioner shall have power to examine and investigate into the affairs of every person engaged in the business of insurance in this state in order to determine whether such person has been or is engaged in any unfair method of competition or in any unfair or deceptive act or practice prohibited by this section.

Section History: Early form

  [C58, 62, 66, 71, § 507B.3, 507B.5; C73, 75, 77, 79, 81, § 507B.3]

Internal References

  Referred to in § 515E.4

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