New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 33 - Managing General Agents
Section 33.0 - Preamble
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 33.0
Current through Register Vol. 46, No. 39, September 25, 2024
Some insurance companies have entered into contracts with individuals or organizations, commonly referred to as managing general agents or managers, to manage all or part of their insurance business. This may represent a shifting of an insurance company's responsibilities to a person, firm, association or corporation outside of its organization. This Part is promulgated because the Department of Financial Services is concerned that such delegation of authority has been subject to abuses detrimental to both insurance companies and insureds.
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