Rebating

{
  "id": "MLC-T-INS-002813",
  "term": "Rebating",
  "field": "Insurance and risk management",
  "definition": "The illegal practice of offering a prospective insurance policyholder a portion of the agent's commission or the insurer's premium as an inducement to buy a policy. This practice is prohibited in most states because it can lead to unfair discrimination among policyholders and disrupt fair competition in the insurance market. It is distinct from legitimate premium adjustments or dividends.",
  "url": "https://mlchart.com/terminology/insurance/rebating/"
}