New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter A - Rules of General Application
Part 80 - Controlled insurers
Subpart 80-2 - Minimum Standards For Producer-controlled Insurers And Controlling Producers; Disclosure Requirements For Certain Other Producers
Section 80-2.3 - Disclosure of producer and insurer relationship
Current through Register Vol. 46, No. 39, September 25, 2024
(a) This section applies to:
(b) Prior to the effective date of a policy issued or issued for delivery or renewed in this State, a licensed producer, as described in subdivision (a) of this section, shall deliver to the prospective insured written notice disclosing the relationship between the insurer and the producer. The notice shall state that the insured will not receive any special benefit or advantage because of that relationship.
(c) If the business is placed through a subproducer, the producer may delegate the performance of the requirements specified in subdivision (b) of this section, to the subproducer, but shall remain responsible for compliance if the subproducer does not comply.
