NEW YORK STATE
INSURANCE DEPARTMENT

SECOND AMENDMENT  TO REGULATION NO. 5
(11 NYCRR 21)

INSURANCE AND EXCESS LINE BROKERS

I, Gregory V. Serio, Superintendent of Insurance of the State of New York, pursuant to the authority granted by Sections 201, 301, 2104, and 2105 of the Insurance Law, do hereby promulgate the following Second Amendment to Part 21 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation No. 5) to take effect upon publication in the State Register, to read as follows:

(Matter in brackets is deleted: new matter is underlined)

The title of Part 21 of Title 11 is amended to read as follows:

INSURANCE BROKERS AND EXCESS LINE BROKERS

The statutory authority references for Part 21 are repealed and a new statutory authority is added to read as follows:

Insurance Law Sections 201, 301, 2104, and 2105

Sections 21.1, 21.2 and 21.3 are amended to read as follows:

21.1 Original applications.

The form of applications for original licenses to act as an insurance broker pursuant to section [119] 2104 of the Insurance Law and as an excess line broker pursuant to section [122] 2105 of the Insurance Law are hereby prescribed as follows: individuals, partnerships; corporations; limited liability companies. These forms may be obtained upon request to the Insurance Department, Albany, N.Y. The term "original application" as used in this Part means an application for an insurance broker’s or excess line broker’s initial license.

21.2 Renewal applications.

The forms of applications for renewal licenses to act as an insurance broker pursuant to section [119] 2104 of the Insurance Law and as an excess line broker pursuant to section [122] 2105 of the Insurance law are hereby prescribed as follows; individuals; partnerships; corporations; limited liability companies. These forms of applications are furnished to present licensees prior to the expiration of each existing license.

21.3 Bail bonds.

A license or renewal license issued pursuant to section [119] 2104 of the Insurance Law shall not be deemed to authorize the licensee or any sublicensee to act as insurance broker in negotiating, placing or otherwise in connection with any bail bond.

The section heading of Section 21.4 is amended to read as follows:

21.4 Change of address.

 

SECOND AMENDMENT TO REGULATION NO. 6
(11 NYCRR 22)

AGENTS: LIFE, ACCIDENT AND HEALTH

I, Gregory V. Serio, Superintendent of Insurance of the State of New York, pursuant to the authority granted by Sections 201, 301, and 2103 of the Insurance Law, do hereby promulgate the following Second Amendment to Part 22 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation No. 6) to take effect upon publication in the State Register, to read as follows:

(Matter in brackets is deleted: new matter is underlined)

 The statutory authority references for Part 22 are repealed and a new statutory authority is added to read as follows:

Insurance Law Sections 201, 301, and 2103

Sections 22.1 and 22.2 are amended to read as follows:

22.1 Applications.

The forms of applications for licenses to act as insurance agents pursuant to [sections 113 and 1114] section 2103 of the Insurance Law are prescribed as follows; individuals; partnerships; [and]; corporations; limited liability companies. These forms may be obtained upon request by insurance companies or fraternal benefit societies to the Insurance Department, Albany, N.Y.

22.2 Types of examinations.

The following types of examination to be taken and passed by each individual seeking to be a licensee or a sublicensee pursuant to [sections 113 and 114] section 2103 of the Insurance Law are hereby prescribed as follows:

(a) Life. An examination on life insurance, annuity contracts and noncancellable disability insurance, and pertinent provisions of the Insurance Law.

(b) Accident and health. An examination on accident and health insurance and pertinent provisions of the Insurance Law and the New York State Disability Benefits Law.

The section heading of Section 22.3 is amended to read as follows:

22.3 Change of address.

SECOND AMENDMENT TO REGULATION NO. 7
(11 NYCRR 23)

AGENTS: FIRE, MARINE, CASUALTY, ETC.

I, Gregory V. Serio, Superintendent of Insurance of the State of New York, pursuant to the authority granted by Sections 201, 301, 2115, and 6802 of the Insurance Law, do hereby promulgate the following Second Amendment to Part 23 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation No. 7) to take effect upon publication in the State Register, to read as follows:

(Matter in brackets is deleted: new matter is underlined)

The statutory authority references for Part 23 are repealed and a new statutory authority is added to read as follows:

Insurance Law Sections 201, 301, 2115, and 6802

Section 23.1 is amended to read as follows:

23.1 Applications.

The forms of applications for licenses to act as insurance agents pursuant to [sections 114 and 115] section 2115 of the Insurance Law are hereby prescribed as follows: individuals; partnerships or associations; corporations; limited liability companies. These forms may be obtained upon request by insurers to the Insurance Department, Albany, NY.

The opening paragraph of Section 23.2 is amended to read as follows:

The following types of examinations to be taken and passed by each individual seeking to be a licensee or a sublicensee pursuant to [sections 114 and 115] section 2115 of the Insurance Law are hereby prescribed as follows:

Subdivision (d) of Section 23.2 is amended to read as follows:

(d) Fidelity and surety. An examination on fidelity and surety insurance, including bail bonds. As an alternative to taking and passing the fidelity and surety examination, the following type of examination to be taken and passed by each individual to qualify for a license under section 554-b of the Code of Criminal Procedure or section [331] 6802 of the Insurance Law is hereby prescribed as follows: Bail Bonds. An examination on the bail bond business.

The section heading of Section 23.5 is amended to read as follows:

23.5 Change of address.

 

FOURTH AMENDMENT TO REGULATION NO. 10
(11 NYCRR 25)

PUBLIC ADJUSTERS

I, Gregory V. Serio, Superintendent of Insurance of the State of New York, pursuant to the authority granted by Sections 201, 301, 2101(g)(2), and 2108 of the Insurance Law, do hereby promulgate the following Fourth Amendment to Part 25 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation No. 10) to take effect upon publication in the State Register, to read as follows:

(Matter in brackets is deleted: new matter is underlined)

Sections 25.1 and 25.2 are amended to read as follows:

25.1 Original applications.

The forms of application for original licenses to act as a public adjuster pursuant to section 2108 of the Insurance Law are hereby prescribed as follows: individuals; partnerships; corporations; limited liability companies. These forms may be obtained upon request to the Insurance Department, Albany, NY. The term "original application", as used in this Part, means an application for a public adjuster’s initial license.

25.2 Renewal applications.

The forms of applications for renewal licenses to act as a public adjuster pursuant to section 2108 of the Insurance Law are hereby prescribed as follows; individuals; partnerships; corporations; limited liability companies. These forms of applications are furnished to present licensees prior to the expiration of each existing license.

 

FIFTH AMENDMENT TO REGULATION NO. 25
(11 NYCRR 26)

INDEPENDENT ADJUSTERS

I, Gregory V. Serio, Superintendent of Insurance of the State of New York, pursuant to the authority granted by Sections 201, 301, 1116, and 2108 of the Insurance Law, do hereby promulgate the following Fifth Amendment to Part 26 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation No. 25) to take effect upon publication in the State Register, to read as follows:

(Matter in brackets is deleted: new matter is underlined)

The statutory authority references for Part 26 are repealed and a new statutory authority is added to read as follows:

Insurance Law Sections 201, 301, 1116, and 2108

Sections 26.1 and 26.2 are amended to read as follows:

26.1 Original applications.

The forms of application for original licenses to act as an independent adjuster pursuant to section 2108 of the Insurance Law are hereby prescribed as follows: individuals; partnerships; corporations; limited liability companies. These forms may be obtained upon request to the Insurance Department, Albany, NY. The term "original application" as used in this Part, means an application for an independent adjuster’s initial license.

26.2 Renewal applications.

The forms of applications for renewal licenses to act as an independent adjuster pursuant to section 2108 of the Insurance Law are hereby prescribed as follows: individuals; partnerships; corporations; limited liability companies. These forms of applications are furnished to present licensees prior to the expiration of each existing license.

 

 

I, Gregory V. Serio, Superintendent of Insurance of the State of New York, do hereby certify that the foregoing is the Second Amendment to Part 21, Second Amendment to Part 22, Second Amendment to Part 23, Fourth Amendment to Part 25 and Fifth Amendment to Part 26 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulations No. 5, 6, 7, 10 and 25), promulgated by me on April 16, 2003, pursuant to the authority granted by Sections 201, 301, 1116, 2101(g)(2), 2103, 2104, 2105, 2108, 2115 and 6802 of the Insurance Law.

Pursuant to the provisions of the State Administrative Procedure Act, prior notice of the proposed regulation was published in the State Register on February 12, 2003. No other publication or prior notice is required by statute.

 

__________________________________________

Gregory V. Serio
Superintendent of Insurance

April 16, 2003