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Broker Pay Disclosure Rule Challenged

From the Business Insurance website December 7, 2009:

The New York State Insurance Department last week took the final step toward promulgating new regulations that would require agents and brokers operating in the state to disclose all forms of compensation they receive from insurers upon client request.

. . .

The Independent Insurance Agents & Brokers of New York, Inc. said last week that it is prepared to sue the NYSID if it does not withdraw the published regulation.

The remainder of the article fleshes out IIABNY's problems with the proposed rule, " known as Regulation No. 194" or alternatively the "Producer Compensation Transparency" rule.

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This page contains a single entry from the blog posted on December 10, 2009 11:34 AM.

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