Sector: Life & Health Insurance, P&C Insurance, Auto Insurance

Current UDAP Rule: Amended UDAP Rule – effective February 14, 2024

The Unfair or Deceptive Acts or Practices (UDAP) Rule took effect on April 1, 2022 and was amended on June 1, 2023 and again on February 14, 2024. The rule strengthens the supervision of insurance industry conduct and enhances consumer protection by clearly defining outcomes that are unfair or otherwise harmful to consumers.

History of the UDAP rule

The following is a timeline of the UDAP rule process, and the related documents published as per legislative requirements under the FSRA Act.