News from New York State Insurance Department

For more information contact: Ron Klug,212-480-2285

Media Advisory: Attorney General, Ins. Department Holding Albany Hearing July 23 on Broker Compensation

NEW YORK, NY (07/21/2008; 1409)(readMedia)-- The New York State Insurance Department and the New York State Office of the Attorney General will hold a joint public hearing on July 23 in Albany on compensation arrangements for insurance agents and brokers and disclosure of fees to customers. The hearing will cover forms and disclosure of producer compensation, and if steering is associated with certain forms of compensation, the mechanisms that are most effective to curb such practices. It is designed to get the views of all interested parties on the proposed addition of a new regulation governing compensation and disclosure.

WHERE:

Chancellor's Hall

State Education Building

89 Washington Ave

Albany, NY 12234

WHEN: Wednesday, July 23. The hearing will begin at 10 a.m. and continue until 5 p.m. or until testimony is complete.

WEBCAST: The hearing will be webcast live at www.totalwebcasting.com/live/nysins.

Press Contacts:

OAG: Matthew Glazer 212-416-8060

NYSID: Ron Klug 212-480-5262, 347-203-1167

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