Garsson publishes article about the insurance business in the Empire State
Frederic M. Garsson, Special Counsel in the Business and Finance and Insurance practices, wrote this article for Best's Review. It details how insurance laws in New York state differ in five key ways from most other states and it offers guidance on how to avoid unanticipated complications when doing an insurance business in New York.
The story provides an overview of two unique rules: the substantial compliance rule and the Appleton rule. It explains limits on selling expenses and prohibition against calling attention to unauthorized insurers. Exceptions to insurer licensing requirements also are detailed.