From and after the effective date hereof, the commissioner
will not approve any "certain participating" policy form as defined
herein. The commissioner will proceed to withdraw approval, under
authority of Insurance Code Chapter 1701, of any such forms which
have heretofore been approved. Without limiting the generality of
the legal bases upon which disapprovals or withdrawals of approvals
heretofore granted will be predicated, the department hereby finds
and declares as follows:
(1) such policy forms are by their nature unfair, inequitable,
misleading, and deceptive, and encourage misrepresentation; and
(2) such policy forms are particularly subject to misleading
sales techniques.
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