Insurance Regulation
A temporary licence has been issued after the death of an agent. What may the temporary licensee generally do with the agency's book of business?
Answer and explanation
Answer: A. Section 2109 issues the licence without a written examination and holds the temporary licensee to servicing, with new solicitation, negotiation and sales withheld except for the title insurance agent case. Passing an examination and limiting new sales to existing customers are not the distinctions the section draws.Source: N.Y. Ins. Law § 2109 — § 2109
More insurance regulation questions
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- When may a licensee receive a share of the commission on insurance placed with a governmental entity under section 2128?
- When must a licensee give a customer the initial privacy notice required by Regulation 169?
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