NU Online News Service, Aug. 17, 4:09 p.m. EDT
The New York State Insurance Department (NYSID) has distributed an advance copy of a draft circular letter on its planned producer compensation disclosure rule to agent groups but excluded those groups that are challenging the regulation through a lawsuit.
Ron Klug, department spokesman, said the department was in dialogue with the groups–the Independent Insurance Agents and Brokers of New York (IIABNY) and the Council of Insurance Brokers of Greater New York (CIBGNY)–before the lawsuit, but he said the lawsuit "makes continued dialogue impossible."
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