PocketLaw | US Virgin Islands Code | Unfair Practices and Frauds

Unfair Practices and Frauds

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Unfair practices in general

Anticompact law

False financial statements

False information and advertising

Advertising must show name and domicile

Insurer name, deceptive use prohibited

Advertising of financial condition

Defamation of insurer

Misrepresentation of policies

Dividends not to be guaranteed

Political contributions

Misconduct of officers, employers

Presumption of knowledge of director

Rebating

Illegal inducements

Life or disability insurers, insurance as inducement to purchase of goods, etc.

Rebating, license revocation

Rebate, acceptance prohibited

Twisting prohibited

Illegal dealing in premiums

Hypothecation of premium notes

Misrepresentation in application for insurance

Wilful destruction or injury of property

False claims or proof

Rate wars prohibited

Interlocking ownership, management

Right of debtor or borrower to select agent, broker, insurer

Penalty for exhibiting false accounts, etc.