Insurance Regulation
An agent's brochure falsely advertises a line the insurer is not authorized to write in New York. Who may be answerable under section 2603?
Answer and explanation
Answer: A. Section 2603 names the insurance corporation and any officer, director or agent who issues or circulates the material, or causes or permits it to be circulated. The section does not confine responsibility to the corporation, to the producing agent, or to an approving officer.Source: N.Y. Ins. Law § 2603 — § 2603
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