State RegulationsNY specificDifficulty 1/5
Under N.Y. Ins. Law §§2101(g) and 2108, an independent insurance 'adjuster' is one who:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under N.Y. Ins. Law §2101(g), an independent adjuster investigates and adjusts claims on behalf of insurers for compensation, and §2108 requires a license from the Superintendent of Financial Services to act as an adjuster in New York.
Why the other options are wrong
- A) Soliciting applications is producer activity under N.Y. Ins. Law §2101(a) and §2101(k).
- B) Fee-based coverage advice is consultant work under N.Y. Ins. Law §2107.
- D) Placing coverage for insureds is broker work under N.Y. Ins. Law §2101(c) and §2104.
Memory hook
Adjuster = paid to investigate and settle claims on the insurer's side, licensed under §2108.