N.Y. Comp. Codes R. & Regs. tit. 11 § 33.3

Current through Register Vol. 46, No. 51, December 18, 2024

Section 33.3 - Requirements

(a) No insurer shall appoint or continue to use the services of an MGA to act for it in this State, either directly or indirectly through subagents of the MGA, unless the MGA has an insurance agent's license issued by this State to represent said insurer for the appropriate kinds of insurance.

(b)

(1) An insurer that appoints an MGA to act for it in this State, either directly or through subagents of the MGA, shall complete and file the form required by subdivision (c) of this section with this department within 30 days of the appointment. An amended form shall be filed within 30 days after any change including termination of appointment.

(2) A domestic insurer that appoints an MGA to act for it in any state or foreign country, shall complete and file the form required by subdivision (c) of this section with this department, within 30 days of the appointment. An amended form shall be filed within 30 days after any change, including termination of appointment.

(c) A filing required by subdivision (b) of this section, relative to the appointment of an MGA, shall be in a form prescribed by the superintendent.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 33.3

Amended New York State Register November 20, 2019/Volume XLI, Issue 47, eff. 3/19/2020