Insurance News

Posts Tagged ‘Rule

A global accounting standard setter proposed a new rule for insurers on Friday, aiming to shine a light on a sector criticized by investors for being a “black box” that keeps them in the dark.

The International Accounting Standards Board (IASB), whose rules are used in over 100 countries including in the EU which is home to insurers like Aviva , Axa , Generali and Allianz , published its draft rule on how to measure the value of insurance and Read the rest of this entry »

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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 »

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 »

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 – Florida’s highest ranking elected officials have responded positively to testimony from the National Association of Mutual Insurance Companies (NAMIC). Members of the Florida Financial Services Commission today abandoned a proposed rule change after NAMIC outlined the unintended consequences it could cause.

“Our members believe the proposed rule before you today is poor public policy and will result in a negative impact Read the rest of this entry »