New York Laws
Article 12-B - Insurance Premium Finance Agencies
577-A - Premium Finance Agreements.

(a) Prior to or contemporaneously with the advancement of any funds to
an insurance retail producer who has procured an insurance policy
through a wholesale producer, the retail producer shall provide the
premium finance agency with the name and address of the wholesale
producer through whom coverage was procured and, if available, the
policy number of the insurance policy being financed, in writing;
(b) The premium finance agency shall notify, in writing, the wholesale
producer and the insurance company of the gross premium, the borrower's
name and address, and, if available, the policy number, within ten (10)
business days of acceptance of the agreement;
(c) Failure by the retail producer to comply with paragraph (a) of
this subdivision shall be a violation of subsection (d) of section
twenty-one hundred twenty of the insurance law, and the retail producer
shall be liable for actual damages caused by his or her failure to
disclose;
(d) For the purposes of this subdivision, a "retail insurance
producer" or "retail producer" means an insurance producer who directly
deals with an insured; a "wholesale insurance producer" or "wholesale
producer" means the producer from whom or through whom the retail
producer has procured coverage on behalf of the insured.