NU Online News Service, March 24, 3:22 p.m. EDT
The Professional Insurance Agents of New York (PIANY) said it will not join a lawsuit challenging the legality of the New York State Insurance Department's producer compensation disclosure regulation.
The Independent Insurance Agents and Brokers of New York (IIABNY) has promised to bring an action. It first threatened to bring the lawsuit challenging the regulation in December 09. IIABNY reiterated its intention to bring the Article 78 action in February when the department officially released its new rules.
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