The Office of General Counsel issued the following opinion on June 20, 2003, representing the position of the New York State Insurance Department.
Re: Display of license
Question Presented
Are agencies and/or agents in New York required to display their licenses for public view?
Conclusion
Pursuant to N.Y. Comp. Codes R. & Regs. tit. 11 § 34.5 (2002)(Regulation 125): "[i]n a headquarters location and each satellite office, the establishing agent or broker must prominently display the license or licenses of the supervising person or persons responsible for that place of business."
Facts
No facts were provided.
Analysis
N.Y. Ins. Law § 2129 (McKinney 2002) states:
(a) Each place of business established by the holder of an agent and/or broker licenses shall be under the supervision of one or more persons licensed to do the kinds of business transacted in that office. The headquarters location must be supervised by one or more persons licensed to do all the kinds of business for which the licensee is authorized. Any satellite office established by a licensee must be supervised by one or more persons licensed to do the kinds of business to be transacted in that office.
(b) Written notice shall be given to the superintendent containing the location of each satellite office and the licensed person or persons responsible for each satellite office.
Pursuant to N.Y. Comp. Codes R. & Regs. tit. 11 § 34.5 (2002)(Regulation 125): "[i]n a headquarters location and each satellite office, the establishing agent or broker must prominently display the license or licenses of the supervising person or persons responsible for that place of business." Accordingly, the supervising person as described above in N.Y. Ins. Law § 2129(a) (McKinney 2002) must prominently display his or license to do the kinds of business transacted in that office.
For further information one may contact Senior Attorney Susan Dess at the New York City Office.