Insurance Regulation
What turns one of the listed acts into an unfair claim settlement practice under section 2601?
Answer and explanation
Answer: D. Section 2601 reaches the listed acts when they are committed without just cause and performed with such frequency as to indicate a general business practice. A single mishandled claim, a prior warning, and the rank of the person acting are not the statutory test.Source: N.Y. Ins. Law § 2601 — § 2601(a)
More insurance regulation questions
- 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?
- To whom does a licensed producer send a report of a suspected fraudulent insurance transaction under section 405?
- Under New York law, to whom may the superintendent issue an insurance consultant's license?
- Under section 2102(f), what must a New York licensee do before conducting business under an assumed name?
- What conduct does section 2604 prohibit with respect to another insurer?
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.