Wondering what brokers might be "trying to hide" from their clients, the New York Insurance Department expressed "disappointment" at the decision by two producer groups to file suit last week to stop implementation of a compensation disclosure regulation.
The Independent Insurance Agents and Brokers of New York and the Council of Insurance Brokers of Greater New York filed a joint legal action on May 24 to prevent the department from implementing its producer compensation disclosure rule.
The groups said they filed the action in New York State Supreme Court in Albany to stop what they characterized as "a burdensome and confusing regulation…"
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
