Rebate

{
  "id": "MLC-T-INS-002812",
  "term": "Rebate",
  "field": "Insurance and risk management",
  "definition": "A portion of the premium or commission returned to the policyholder by an insurer or agent as an inducement to purchase insurance. While common in other industries, rebating in insurance is generally illegal in most jurisdictions. It is considered an unfair trade practice that can lead to discriminatory pricing and undermine the financial stability of insurers.",
  "url": "https://mlchart.com/terminology/insurance/rebate/"
}