NU Online News Service, March 5, 11:10 a.m. EST
New York State is moving towards giving insurance agents and brokers the ability to use Internet banks for premium trust accounts.
The Independent Insurance Agents & Brokers of New York Inc. said they had asked for a rule to permit the use of Internet banks. The New York State Insurance Department recently sent the group a draft proposal amending N.Y. Insurance Regulation 29, which regulates premium trust accounts.
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