After accepting an application that involves replacement of an existing New York life policy, within how many calendar days must the replacing insurer notify the existing insurer under Regulation 60?

Why this is the answer

Once a replacement application is received, 11 NYCRR § 51.6(d) requires the replacing insurer to send a written notice — along with the Disclosure Statement and any sales material — to the existing insurer within 10 calendar days. This triggers the existing insurer's right to attempt to conserve the business during the 45-day conservation period. Failure to send the 10-day notice is a Reg 60 violation independent of any underlying suitability issue and can support DFS enforcement. Per 11 NYCRR § 51.6(d).