STATE OF NEW YORK
INSURANCE DEPARTMENT
25 BEAVER STREET
NEW YORK, NEW YORK 10004

The Office of General Counsel issued the following opinion on October 3, 2003, representing the position of the New York State Insurance Department.

RE: Managing General Agent Sharing Office Space with an Insurer.

Question Presented:

Pursuant to the New York Insurance Law, may a managing general agent share office space with an insurer?

Conclusion:

Nothing in the New York Insurance Law would prohibit a managing general agent from sharing office space with an insurer.

Facts:

No specific fact pattern was provided.

Analysis:

Our research reveals that there is nothing in the New York Insurance Law that would prohibit a managing general agent from sharing office space with an insurer.

For further information you may contact Senior Attorney Pascale Joasil at the New York City Office.