New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 30 - Producer Compensation Transparency
Section 30.5 - Exceptions
Current through Register Vol. 46, No. 12, March 20, 2024
This Part shall not apply:
(a) to the placement of reinsurance;
(b) to the placement of insurance with a captive insurance company pursuant to article 70 of the Insurance Law;
(c) to an insurance producer that has no direct sales or solicitation contact with the purchaser, which may include wholesale brokers or managing general agents;
(d) to a sale of insurance by a person who is not required to be licensed as an insurance producer under Insurance Law, section 2102(a)(1) for the purposes of that sale; or
(e) to renewals, except that if the purchaser requests more information about the producer's compensation less than 30 days prior to a renewal or less than 30 days after a renewal, the insurance producer shall disclose to the purchaser in a prominent writing the information required by section 30.3(b) of this Part within five business days.
