News from New York State Insurance Department

For more information contact: Andy Mais, 212-480-5262

Media Advisory: Attorney General, Insurance Department Holding Buffalo Hearing July 14 on Broker Compensation

NEW YORK, NY (07/10/2008; 1328)(readMedia)-- The New York State Office of the Attorney General and the New York State Insurance Department will hold a joint public hearing on July 14 in Buffalo 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:

Buffalo & Erie County Public Library

1 Lafayette Square

Buffalo, NY 14203

WHEN: Monday, July 14. 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: Andy Mais 212-480-5262, 917-749-3408

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