Full question:
Can an individual (i.e., a retired insurance professional with 20 years experience), who no longer sells insurance, start an online educational website that offers consumers his educated opinions, suggestions and buying tips on a particular type of insurance and - and, more importantly - specific policy and carrier information (including a side-by-side comparison of the 10 best selling policies) for a modest one-time fee - without infringing any law or regulation? This assumes, of course, that it is made crystal clear to the end user (i.e., the consumer) that the individual offering this information DOES NOT SELL INSURANCE and that the information provided is for informational and educational purposes only? The site will NOT be providing individualized advice, but rather general recommendations to consumers as a whole. The website strongly encourages consumers to consult a licensed insurance professional for specific and binding insurance advice.
- Category: Advertisement
- Date:
- State: Arizona
Answer:
We cannot give legal advice. The following is not a substitute for the advice of a local attorney. But we hope the information will be useful.
We are unaware of any state or federal laws that would prohibit what you are suggesting, and feel you have a strong First Amendment (free speech) right to publish accurate information on policies, make comparisons and give your opinions. Any law to the contrary would have to be supported by a compelling governmental interest in order to overcome the right, and it is difficult to imagine how the government could claim a compelling interest in preventing anyone from doing what you suggest, especially since it can only be seen as a benefit to the consumers.
To be clear, we have not undertaken an exhaustive search to determine whether or not such a prohibition exists. It is difficult to "prove a negative." Our information and belief is that any such prohibition would be unconstitutional on First Amendment grounds. That is no guarantee, however, that such prohibitions do not exist.
An excellent resource would be your state insurance commissioner.
http://www.id.state.az.us/
Call or write, and ask whether there is any prohibition on what you are contemplating. You might also consider contacting the state attorney general.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
