Insurance Regulation
What conduct does section 2604 prohibit with respect to another insurer?
Answer and explanation
Answer: C. Section 2604 reaches a statement, written, printed or spoken, that is untrue in fact and is directly or by inference derogatory to an insurer's financial condition, solvency or financial standing. Truthful comparisons, service opinions and reporting a rate change do not meet that description.Source: N.Y. Ins. Law § 2604 — § 2604
More insurance regulation questions
- A producer does not repeat a rumour defaming an insurer, but persuades a colleague to spread it. How does section 2604 treat the producer?
- A producer wants to share part of a commission with an unlicensed friend who introduced the client. What does section 2102(e) say?
- A producer's home state licence was cancelled two months ago. Under section 2103(g)(11), may a nonresident New York licence still be issued without examination?
- A purchaser asks for the amount of the producer's compensation three weeks after the policy is issued. What does Regulation 194 require?
- 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?
- After notice, what is the person charged entitled to do in the hearings process under section 2405?
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