State RegulationsNY specificDifficulty 2/5
A New York agent wants to market herself as 'Capital Region Benefits Group' rather than the name on her license. What must she do under the Insurance Law before using the assumed name?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under N.Y. Ins. Law §2102(f), a licensee who does business under an assumed name must report it to the Superintendent, and the name may not deceive the public about who the licensee is. This keeps DFS records - and consumers - able to connect marketing names with the accountable licensee behind them.
Why the other options are wrong
- A) Using the name in insurer advertising does not satisfy the statutory duty to report the assumed name to the Superintendent.
- C) A county clerk filing may be needed for general business purposes, but it does not replace notice to the Superintendent under the Insurance Law.
- D) Insurer consent is a contractual courtesy, not the statutory mechanism for using an assumed name in New York.
Memory hook
New name? Tell the Superintendent - and keep it honest.