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  • 11 Nycrr 80-1.2 Registration Of Controlled Insurers - Dfs Ny

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11 NYCRR 80-1.2 Registration of controlled insurers Parallel Citations Regulation 52 Former Citations 11 NYCRR 80.2 (a) An insurer required to register or amend its registration pursuant to Insurance.

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Section 33.2(c) of 11 NYCRR 33 (Insurance Regulation 120) defines an MGA as any person, firm, association, or corporation that: (1) manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; (2) acts as an insurance agent for the ...

11 NYCRR Part 80-1 (Insurance Regulation 52) adopted pursuant to the provisions of section 1503, prescribes the use of Registration Statement HC 1 for filing by a controlled insurer. B. Formal requirements. (a) A registrant shall file electronically a registration statement and any amendment thereto.

(j) The insurer shall take appropriate corrective action for any consumer harmed by a violation of this Part by the insurer, the [insurance] producer, or any third party [that] with whom the insurer contracts [with pursuant to subdivision (f) of section 224.4 of this Part].

Revised NY Regulation 187 explains that a licensee acts in the “best interest” of the consumer when the recommendation is based on the consumer's suitability information and reflects the care that a prudent person would exercise in a similar situation without regard to the financial interests of any other party when ...

On October 20, 2022, New York State's highest court unanimously held that the First Amendment to New York Department of Financial Services (“NYDFS”) Insurance Regulation 187 (11 NYCRR pt. 224), “Suitability and Best Interests in Life Insurance and Annuity Transactions” (“Regulation 187”), is constitutional.

Regulation 187 regulates recommendations made by a producer in the sale of a policy or certain in-force transactions. In particular, the Regulation is concerned with direct producer involvement and requires a producer to act in the best interest of the consumer when making a recommendation.

New York Regulation 187 requires producers and insurers to implement a process ensuring they are acting only in the consumer's best interest, and not considering the financial interests of the producer or insurer, when recommending or servicing a policy issued in New York.

Regulation No. 64 (11 NYCRR 216) establishes minimum standards for claims-handling practices. These standards, if violated without just cause and with such frequency as to indicate a general business practice, would constitute unfair claims settlement practices pursuant to Article 26 of the Insurance Law.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232