Insurance News

Posts Tagged ‘disclosure

The Risk and Insurance Management Society, Inc. said New York State?s final compensation disclosure regulation for agents and brokers is not stringent enough and called on officials to gather more information.

RIMS move follows an Independent Insurance Agents & Brokers of New York announcement yesterday that it is going to court against the rule because it is too difficult for its members. RIMS asked the Department of Insurance to reopen Read the rest of this entry »

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A New York independent agent?s group said it is moving ahead with a lawsuit to block the state?s insurance department from implementing new agent and broker compensation disclosure regulations.

The Independent Insurance Agents & Brokers of New York said it planned to go to court to keep the New York Insurance Department from implementing rules published today in the State Register.

Those regulations would require insurance agents Read the rest of this entry »

WASHINGTON?Political feuding over global warming reached the Securities and Exchange Commission Wednesday when commissioners, divided on party lines, voted to encourage companies to disclose the effects of climate change on their business.

SEC Chairman Mary Schapiro, an Obama administration appointee, said the agency wasn’t weighing in on the global-warming debate and wanted to ensure that investors get reliable information.

The Read the rest of this entry »

NEW YORK?The New York Insurance Department softened its stance on mandatory producer compensation disclosure Wednesday, proposing revised regulations that would require disclosure only when requested by clients.

Under the proposal, all agents and brokers would be required to disclose to clients, either in writing or orally, whether as insurance producers they represent the purchaser or the insurer for purposes of a sale. In addition, Read the rest of this entry »

INDIANAPOLIS – A set of rules adopted by the National Association of Insurance Commissioners (NAIC) that requires insurance companies to disclose information related to climate change serves mainly to promote the ideological objectives of global warming activists, according to a briefing paper published by the Washington Legal Foundation. The paper, “Mandated ‘Climate Risk’ Disclosure: Turning Professional Activists into Insurance Inspectors,” Read the rest of this entry »