N.Y. Laws » CHAPTER Insurance / ARTICLE Agents, Brokers, Adjusters, Consultants and Intermediaries
New York Consolidated Laws

N.Y. Insurance Law § 2116 (2026)

Insurance brokers; commissions

✓ current as of May 2026
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* § 2116. Insurance brokers; commissions. No insurer authorized to do
business in this state, and no officer, agent or other representative
thereof, shall pay any money or give any other thing of value to any
person, firm, association or corporation for or because of his or its
acting in this state as an insurance broker, unless such person, firm,
association or corporation is authorized so to act by virtue of a
license issued or renewed pursuant to the provisions of section two
thousand one hundred four of this article. For the purposes of this
section, "acting as insurance broker" shall not include the referral of
a person to a licensed insurance agent or broker that does not include a
discussion of specific insurance policy terms and conditions and where
the compensation for referral is not based upon the purchase of
insurance by such person.
  * NB Effective until September 10, 2029
  * § 2116. Insurance brokers; commissions. No insurer authorized to do
business in this state, and no officer, agent or other representative
thereof, shall pay any money or give any other thing of value to any
person, firm, association or corporation for or because of his or its
acting in this state as an insurance broker, unless such person, firm,
association or corporation is authorized so to act by virtue of a
license issued or renewed pursuant to the provisions of section two
thousand one hundred four of this article.
  * NB Effective September 10, 2029
Notes of Decisions
Cited in 1 case, 1996–1996 · leading case: Gutfreund v. DeMian, 227 A.D.2d 234 (N.Y. App. Div. 1996).
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Gutfreund v. DeMian, 227 A.D.2d 234 (N.Y. App. Div. 1996). “Equally lacking in merit is plaintiffs contention that Insurance Law § 2116, which prohibits insurers from "pay[ing] any money or giv[ing] any other thing of value” to unlicensed brokers does not render illegal any agreement made by the DeMian defendants, a licensed brokerage…”
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