N.Y. Comp. Codes R. & Regs. tit. 11 § 25.3
Current through Register Vol. 46, No. 25, June 18, 2024
Section 25.3 - Prohibition as to methods of doing business(a) No individual or entity licensed to act as a public adjuster or named as a sublicensee in any public adjuster's license shall, between the hours of 6:00 p.m. and 8:00 a.m., directly or indirectly, including through a contractor or any other individual or entity, solicit the adjustment of a loss from an insured or from any insurance broker or other individual or entity, whether by personal interview, telephone, or any other method, accept any order, commission or contract for the adjustment of any loss that is within the scope of Insurance Law section 2108; or permit an agent, representative or employee to do so.(b) No such licensee or sublicensee shall divide any fee or give any fee, commission, or other compensation to any individual or entity for procuring, or assisting in procuring, the adjustment of any such loss for any such licensee or sublicensee, unless the individual or entity to whom such fee, commission, or other compensation is given or paid had at the time when the loss occurred: (1) a public adjuster's license issued and in force pursuant to Insurance Law section 2101(g)(2); or(2) an insurance broker's license issued and in force and such licensee either was the broker of record in placing the insurance that was involved in the adjustment of the loss, whether or not designated in writing to act for the insured, or was designated to act for the insured in writing before a loss occurred.(c) No such licensee or sublicensee shall be employed, or associated with, any individual or entity, whose license as a public adjuster has been revoked by the superintendent. Any violation of this Part shall be deemed a ground for refusal to issue or renew, or for revocation or suspension of, a public adjuster's license.N.Y. Comp. Codes R. & Regs. Tit. 11 § 25.3
Amended New York State Register August 11, 2021/Volume XLIII, Issue 32, eff. 10/8/2021