New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IX - Unfair Trade Practices
Part 219 - Rules Governing Advertisements Of Life Insurance And Annuity Contracts
Section 219.3 - Definitions

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 219.3

Current through Register Vol. 46, No. 12, March 20, 2024

(a) For the purposes of this Part:

(1) Advertisement shall include, but not necessarily be limited to the following, when designed to be used or are actually used, to induce the public to purchase, increase, modify, reinstate or retain a policy:
(i) printed and published material, audio visual material and descriptive literature of an insurer used in direct mail, newspapers, magazines, radio scripts, television scripts, billboards and similar displays;

(ii) descriptive literature and sales aids of all kinds, including but not limited to circulars, leaflets, booklets, depictions, illustrations and form letters, issued by an insurer, agent, broker, solicitor or organization sponsoring the insurance for presentation to members of the insurance buying public;

(iii) prepared sales talks, presentations and material for use with the public by agents, brokers and solicitors; or

(iv) material used for the recruitment of an insurer's sales personnel, agents, brokers and solicitors.

(2) Notwithstanding paragraph (1) of this subdivision, the terms advertisement and public announcement, as used pursuant to any provision of the Insurance Law, shall not include:
(i) correspondence or forms directed to the owner, insured, assignee, or beneficiary of an existing policy, certificate or contract, when such existing policy, certificate or contract is the subject of such correspondence or form; or

(ii) any registration statement including, without limitation, the prospectus that forms a part of such registration statement, or any periodic, current or other report, filed with or furnished to the United States Securities and Exchange Commission.

(b) Policy shall include any policy, plan, fraternal benefit certificate or other certificate of insurance coverage, contract, agreement, statement of coverage, rider or endorsement that provides life insurance or annuities.

(c) Insurer means an entity providing life insurance or annuity benefits.

(d) Unauthorized insurer means an entity doing an insurance business, as defined in section 1101 of the Insurance Law, that is not:

(1) an authorized insurer in New York; or

(2) exempt from licensing in New York.

(e) Joint advertisement means an advertisement that contains the names of, or refers to insurance policies sold by, a New York authorized insurer and its parent, subsidiary or affiliate.

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