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New York State regulators have approved an agent association's disclosure statement that insurance agents and brokers can use to inform their clients about their compensation arrangements with carriers.

The New York Insurance Department expressed "disappointment" at the decision by two producer groups to file suit last week to stop implementation of a compensation disclosure regulation.

The New York Insurance Department expressed "disappointment" over the decision by two producer groups to file suit to stop implementation of a compensation disclosure law, wondering what brokers might be "trying to hide."

While two agent groups have said they will sue over New York State's upcoming fee disclosure regulations another agent group reported great success in a meeting on rules issues with regulators.

A meeting of New York legislators and insurance industry groups led to no solution of coastal property owners' insurance issues, but may have underscored divisions between agents and insurers, said persons attending the meeting.

An independent agent group announced it has made arrangements to provide an online aerial photography tool for its members to use with northeast region property submissions.

The Professional Insurance Agents of New York State Inc. said it has put up a Web page explaining the state's controversial producer disclosure regulation due to go into effect next year.

The Council of Insurance Brokers of Greater New York said it will join the legal effort to defeat New York's compensation disclosure rule for producers.