X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A New York state rule requiring insurance brokers to disclose who is paying their commissions was upheld last week by an appellate division of the New York State Supreme Court.

The court’s ruling involves Regulation 194, issued by the state’s Insurance Department in 2010, which requires insurance brokers or agents to inform customers of their role in insurance sales, as well as any compensation they will receive from the insurer or a third party, and any factors that impact that compensation. The Council of Insurance Brokers of Greater New York, the Independent Insurance Agents & Brokers of New York and other groups challenged the rule in court, arguing that the Insurance Department didn’t have the authority to issue it and that there was no “rational basis” for the rule.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.