A New York insurance producer wants to publish a pamphlet purporting to make known the financial condition of an insurer. Under N.Y. Ins. Law §2122, the producer may do so only if the pamphlet:

Why A is correct

Under N.Y. Ins. Law §2122, no insurance producer may make or issue in this state any advertisement, sign, pamphlet, circular, card, or other public announcement purporting to make known the financial condition of any insurer unless it conforms to the requirements the Insurance Law prescribes for such announcements of financial condition. A producer therefore cannot freely publish solvency figures; the publication must track the statutory requirements.

Why the other options are wrong

• B) A disclaimer that the Superintendent reviewed the pamphlet would itself be misleading, because the Superintendent does not pre-clear producers' financial announcements.
• C) Limiting distribution to existing policyowners does not matter; the conformance requirement applies to any public announcement of an insurer's financial condition.
• D) The producer's written solvency opinion is not a substitute for conformance with the statutory requirements for financial-condition announcements.

Memory hook

Publishing an insurer's financials requires conforming to the statutory format, not just honesty.