Health life home business card license#

To avoid any ambiguity, the business card should include an express statement that the agent is not licensed to sell life and health insurance, and does not work for, or represent, the life and health insurance agency. (2004) defines as a renunciation or repudiation of a connection with, or interest in, a legal right or claim - fails to renounce or repudiate any connection with the life and health insurance agency. This “disclaimer” – which Black’s Law Dictionary, 8th ed. P&C Firm and L&H Firm are owned by (or subsidiaries of) XYZ Parent Co” could be considered misleading. Here, the proposed language on the business card that “Joe Smith is affiliated with P&C Firm.

Health life home business card license#

Such a finding would be a ground for suspension or revocation of the producer’s license or monetary penalties. A producer that provides misleading information to prospective clients or insureds could be found “untrustworthy” or “incompetent” within the meaning of Insurance Law § 2110. No specific information need be printed on the letterhead or business cards, but any information must comply with the Insurance Law and regulations promulgated thereunder. They may share the same staff and manager, furniture, and may advertise both agencies on the same store sign, letterhead, and business cards. See Office of General Counsel (“OGC”) Opinion No. One agency may rent space within the office of the other agency however, the two agencies must retain their separate corporate identities, separate books of business, and separate premium bank accounts. 1 Analysis:Īs a preliminary matter, Insurance Law § 2129 requires that each insurance office of an agent or broker be under the supervision of an appropriate licensee licensed to do the kinds of business transacted in that office, and that the Department be notified of the location of, and identity of licensees responsible for, satellite offices. The issue is whether this arrangement is legally permissible. The reverse side of the agent’s business card will include a statement that the agent is affiliated with the property/casualty insurance agency, and that both agencies are owned by the named parent company. The property/casualty insurance agent’s business card intends to identify his employer (the property/casualty insurance agency) at the top and identify the life and health insurance agency at the bottom. The life and health insurance agency will rent office space to a property/casualty insurance agent’s employed by the property/casualty insurance agency. The property/casualty insurance agency wants to jointly market its services to the life and health insurance agency’s clients. The inquirer reports that it has two subsidiaries that are New York-licensed producers. Further, the disclaimer must be located on the front of the card. However, the property/casualty insurance agent’s business card must clearly state that the agent is not licensed as a life and health insurance agent.

The property/casualty insurance agent may solicit and sell insurance, within the authorization of the agent’s license, to any person having legal capacity, including those persons who are also clients of the life and health insurance agency on the premises. May a property/casualty insurance agent employed by a property/casualty insurance agency market to the clients of a related life and health insurance agency, with whom the property/casualty insurance agency shares space, a business card identifying both agencies, with a “disclaimer” on the reverse side of the card that the agent is affiliated with the property/casualty insurance agency and that the two agencies are subsidiaries of one parent? Conclusion: RE: Business Card/Office Consolidation Question Presented: The Office of General Counsel issued the following opinion on May 30, 2008, representing the position of the New York State Insurance Department.