NU Online News Service, Dec. 3, 12:48 p.m. EST
The Independent Insurance Agents & Brokers of New York has threatened legal action against the New York State Insurance Department over a proposed producer compensation rule it posted yesterday.
According to a letter sent by IIABNY to the department after the rule was published in the New York State Register, the insurance superintendent "does not have legal authority to compel compensation disclosure."
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