Litigation

A Number of Structured Settlement Industry Websites Continue to Skirt New York Insurance Law

By John Darer

Should one question how seriously some structured settlement agencies take New York Insurance Law?

Structured settlement agencies who have been operating in New York state for years typically operate a website directed at New York residents that includes a list of structured settlement annuity issuers (life insurance companies) or the trademarked logo of the life insurance companies. Some even  represent that companies that no longer issue structured settlement annuities, still provide structured settlement products and include their logos.

New York Insurance Law § 2122(b) (McKinney 2000), entitled "advertising by insurance agents and brokers", provides as follows:

"Every agent of any insurer and every insurance broker shall, in all advertisements, public announcements, signs, pamphlets, circulars and cards, which refer to an insurer, set forth therein the name in full of the insurer referred to and the name of the city, town or village in which it has its principal office in the United States".  (underlines for emphasis)

This is the THIRD time that this author has written on the subject in the last year and what is shocking is that the websites in question include those companies whose members are represented in industry leadership.

Don't shoot the messenger for what you are supposed to already know .

Full post as published by Structured Settlements 4Real on May 13, 2009 (boomark / email).