Insurance Regulation
On what basis does New York issue a nonresident producer licence under its reciprocity provision?
Answer and explanation
Answer: C. Section 2136 lets the superintendent waive requirements where the applicant holds a current home state licence in good standing, files the application, pays the fees, and the home state licenses New York residents on equivalent terms. Examination, New York prelicensing, an office and a bond are not what the reciprocity provision turns on.Source: N.Y. Ins. Law § 2136 — § 2136
More insurance regulation questions
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- Which items does Regulation 152 treat as part of the policy record kept for examination?
- Whom does New York's definition of an insurance producer cover?
- Within what period must a New York licensee inform the superintendent of a change of address?
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