State RegulationsNY specificDifficulty 2/5
A Rochester insurer signs an agency contract with a newly licensed New York life agent. Under N.Y. Ins. Law §2112(b), the insurer must file the notice of appointment with the Superintendent of Financial Services:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under N.Y. Ins. Law §2112(b), the notice of appointment must be filed with the Superintendent of Financial Services within 15 days of the insurer executing the agency contract or first submitting business for the insurer. Until the appointment is on file, the agent has no official tie to that insurer.
Why the other options are wrong
- A) 10 days matches other insurance timelines, such as the Reg 60 replacement-disclosure mailing to the replaced insurer, but it is not the appointment window.
- C) 30 days is the window for reporting a for-cause agent termination to the Superintendent under N.Y. Ins. Law §2112(d).
- D) 60 days is the renewal-application benchmark under N.Y. Ins. Law §2103(j)(10), not the appointment window.
Memory hook
Appointment notice: 15 days from contract or first business; the 30-day figure belongs to termination reports.