N.Y. Comp. Codes R. & Regs. tit. 11 § 25.10

Current through Register Vol. 46, No. 25, June 18, 2024

Section 25.10 - Right to compensation

(a) The public adjuster shall not be entitled to any compensation for any services performed pursuant to a compensation agreement prior to its cancellation in accordance with section 25.8 of this Part.

(b) If a public adjuster performs no valuable services, and another public adjuster, insurance broker (in accordance with Insurance Law section 2101(g)(2)) or attorney subsequently successfully adjusts such loss, then the first public adjuster shall not be entitled to any compensation whatsoever.

(c) Where more than one public adjuster performs valuable services for an insured, and there has not been a valid cancellation of the compensation agreement in accordance with section 25.9 of this Part, the insured shall not be obligated to pay an amount for all of such services in excess of the maximum compensation amount set by section 25.7 of this Part.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 25.10

Amended New York State Register August 11, 2021/Volume XLIII, Issue 32, eff. 10/8/2021