11 CRR-NY 25.6NY-CRR

OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 11. INSURANCE
CHAPTER II. AGENTS, BROKERS AND ADJUSTERS
PART 25. PUBLIC ADJUSTERS
11 CRR-NY 25.6
11 CRR-NY 25.6
25.6 Compensation agreement.
(a) A public adjuster may be compensated by an insured for or on account of services rendered to such insured by the public adjuster solely as provided for by a written compensation agreement obtained by the public adjuster which shall consist of substantively the same information and statements contained in Form 1 in section 25.13(a) of this Part.
(b) Every such compensation agreement shall contain the names and addresses of the public adjuster and the insured. If the public adjuster is a corporation, a sublicensee of the public adjuster shall also be named. If the public adjuster is a partnership, a partner shall also be named.
(c) Every such compensation agreement shall be signed by the public adjuster or, if a corporation or partnership, then by a sublicensee or partner, or by the duly authorized licensed employee who entered into the agreement; and by the insured, or other party to be charged.
(d) Every such agreement shall be in the same language as that principally used in the oral negotiations and presentation.
11 CRR-NY 25.6
Current through February 15, 2021
End of Document