State RegulationsNY specificDifficulty 2/5
Which of the following persons is an 'insurance producer' within the meaning of the New York Insurance Law?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under N.Y. Ins. Law §2101(k), an insurance producer is any person required to be licensed to sell, solicit, or negotiate insurance. The licensed individual transacting life contracts in Buffalo fits squarely: selling and soliciting are the core producer activities defined in §§2101(n) and 2101(o).
Why the other options are wrong
- B) Purchasing insurance for one's own protection does not make anyone a producer; no license is required to be a policyholder.
- C) Processing claims paperwork is not selling, soliciting, or negotiating contracts of insurance; that work belongs to the insurer's claims staff.
- D) Internal actuarial pricing never involves transacting insurance with applicants, so no producer license is implicated.
Memory hook
The producer test is activity, not title: sells, solicits, or negotiates - policyholders, claim clerks, and actuaries never qualify.