11 CRR-NY 30.5NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 11. INSURANCE
CHAPTER II. AGENTS, BROKERS AND ADJUSTERS
PART 30. PRODUCER COMPENSATION TRANSPARENCY
11 CRR-NY 30.5
11 CRR-NY 30.5
30.5 Exceptions.
This Part shall not apply:
(a) to the placement of reinsurance;
(b) to the placement of insurance with a captive insurance company pursuant to article 70 of the Insurance Law;
(c) to an insurance producer that has no direct sales or solicitation contact with the purchaser, which may include wholesale brokers or managing general agents;
(d) to a sale of insurance by a person who is not required to be licensed as an insurance producer under Insurance Law, section 2102(a)(1) for the purposes of that sale; or
(e) to renewals, except that if the purchaser requests more information about the producer's compensation less than 30 days prior to a renewal or less than 30 days after a renewal, the insurance producer shall disclose to the purchaser in a prominent writing the information required by section 30.3(b) of this Part within five business days.
11 CRR-NY 30.5
Current through July 31, 2021
End of Document