Bill Text: MS HB182 | 2017 | Regular Session | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2017-01-31 - Died In Committee [HB182 Detail]

Download: Mississippi-2017-HB182-Introduced.html

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MISSISSIPPI LEGISLATURE

2017 Regular Session

To: Insurance; Judiciary A

By: Representative Baria

House Bill 182

AN ACT TO PROHIBIT ANY INSURANCE COMPANY TO PAY, DIRECTLY OR INDIRECTLY, TO AN AGENT ANY BONUS OR EXTRA COMPENSATION CONTINGENT ON THE NUMBER OF CLAIMS THAT ARE FILED AND/OR PAID ON AN INSURANCE POLICY, OR ON THE ACTUAL AMOUNT OF THE CLAIMS PAID ON AN INSURANCE POLICY; AND FOR RELATED PURPOSES.

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  It shall be unlawful for any insurance company to pay, directly or indirectly, to an agent any bonus or extra compensation contingent on the number of claims that are filed and/or paid on an insurance policy, or on the actual amount of the claims paid on an insurance policy.

     SECTION 2.  This act shall take effect and be in force from and after July 1, 2017.