N.Y. Comp. Codes R. & Regs. tit. 11 § 30.5

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

Section 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.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 30.5