Regulation/Legislation

Insurance industry representatives were optimistic that some type of action will be taken this year to remedy flaws in New York's no-fault auto insurance system after a State Senate Insurance Committee hearing.

A New York independent agent's association said last week that it plans to make good on a prior threat to file a lawsuit to block Empire State regulators from implementing new producer disclosure compensation rules.

Federal lawmakers may cut a provision of proposed legislation that seeks to end the antitrust exemption for medical malpractice insurers afforded by the McCarran-Ferguson Act exemption, according to insurance industry sources.

The Independent Insurance Agents and Brokers of New York (IIABNY) said its negotiations with the New York State Insurance Department have resulted in some revisions to a proposed producer compensation disclosure rule.

Thanks to the Senate rule requiring 60-votes to get any bill to a vote, making the country almost ungovernable, perhaps it's time to do away with or modify the fillibuster rules, suggests NU Editor Sam Friedman on his blog at www.NUSamSoapBox.com.

The Independent Insurance Agents and Brokers of New York said its negotiations with the New York State Insurance Department have resulted in some revisions to a proposed producer compensation disclosure rule.