Antirebate Law

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Antirebate Law

A law banning the practice in which an insurance agent gives a certain percentage of his/her commission to a policyholder as an incentive to buy a policy from him/her. An antirebate law is intended to encourage fair business practices in the insurance industry. Most U.S. states have antirebate laws.
References in periodicals archive ?
The proposition repeals California's anti-rebate law, making it legal for agents and brokers to reduce fees charged to, and share commissions with, clients.
Buyers in Pennsylvania and Delaware have the option of choosing whether they would like to receive the rebate from ZipRealty or have the Company make a donation to the United Way since they are not bound to the same anti-rebate law as buyers in New Jersey.
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