After five years of being subject to what some publicly argued was an unlevel playing field, state attorneys general relented, agreeing to lift the ban and allowing the three major insurance brokerage firms.
Former New York Mayor Rudolph Giuliani slammed ex-New York Attorney General Eliot Spitzer's investigative tactics and defended Maurice "Hank" R. Greenberg, calling him a great man who was unfairly persecuted.
The New York State Supreme Court in Albany County has rejected the arguments of two agent associations that the state insurance department's planned producer compensation disclosure regulation is arbitrary and unnecessary.
The New York State Insurance Department has released its circular letter providing guidance for its upcoming producer compensation disclosure regulation, but agent groups said questions still need to be worked out before the Jan. 1 implementation.
As retail brokers struggle with the declining revenue of a continuing soft market, they are engaging in some activities that frustrate wholesale brokers, according to E&S broker executives.
As retail brokers struggle with the declining revenue of a continuing soft market, they are engaging in some activities that frustrate their wholesalers, according to E&S brokerage executives.
They may not command the multibillion-dollar premium figures touted by competitors involved in the latest merger deals, but market clout is not necessarily synonymous with size.