The Iowa Insurance Department, reversing an action in June, has decided it will allow insurers to provide promotional trinkets and brochures to policyholders or prospective policyholders.
Under the latest policy, issued as Bulletin 08-13, agents or insurers “may give inexpensive gifts to prospective or existing customers so long as such gifts are provided on a nondiscriminatory basis and so long as the giving of the gift is not conditioned upon the purchase of a policy of insurance.”
It replaces a bulletin issued June 30 that would have prohibited the offer of any goods or services to a policyholder or prospective policyholder that are not specifically included in the policy contract.
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