Insurance Regulation
A licensed insurance consultant's brother is a vice-president of an authorized insurer. What does that mean for the consultant's advice?
Answer and explanation
Answer: D. Section 2107 bars a consultant from recommending a purchase from an authorized insurer in which a member of the consultant's immediate family holds an executive position. The bar is flat, so disclosure, waiving the fee, and surrendering the licence are not the remedies the statute provides.Source: N.Y. Ins. Law § 2107 — § 2107
More insurance regulation questions
- How does New York distinguish an independent adjuster from a public adjuster?
- How long must an insurer keep the policy record that Regulation 152 requires for examination purposes?
- How many hours of prerequisite coursework does New York require before the life insurance examination?
- How much notice of a hearing must the superintendent give when serving a statement of charges under section 2405?
- On what basis does New York issue a nonresident producer licence under its reciprocity provision?
- On what basis may the New York superintendent refuse a license even where the applicant passed the examination?
621 New York questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.