Nevada Issues First Broker Fee Rule
Nevada has become the first state to set new broker compensationdisclosure rules in the wake of New York Attorney General EliotSpitzers probe into the industrys contingency fee scandal.
The temporary regulation issued earlier this month received agood review from an insurer trade group. Sam Sorich, vice presidentof the Property Casualty Insurers Association of America, said theNevada Division of Insurance “took a well-reasoned approach incrafting its temporary regulation. Appropriately, the temporaryregulation applies only to brokers.”
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