Agents groups are preparing for another battle with the California Department of Insurance over proposed regulation increasing the fiduciary responsibilities of agents and brokers.
State Insurance Commissioner John Garamendi has already proposed the regulations, which include such requirements as increasing disclosures and liability of brokers and agents, requiring that all quotes be presented to a client, and giving Mr. Garamendi the authority to issue citations for regulation violations.
The new proposal will be released in mid-September, according to department spokesman Norman Williams. Mr. Williams would not specify which changes were made to the proposal but said it will include several changes suggested in public comments received by the department, as well as "some adjustments we feel we needed to make."
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