The Insurance Advocate has opined that the regulation should be withdrawn in its present form. Meanwhile, the Independent Insurance Agents and Brokers of New York has threatened a lawsuit against the Insurance Department, to undo the proposed rule. The Professional Insurance Agents of New York has communicated with its members indicating that, some changes to the regulation have been made, the rule still presents concerns for professional insurance agents, especially in the area of compliance.
An Alliance of Life Insurance interests has endeavored to distinguish itself from the property casualty agents cause and from the regulation itself, arguing that the rule seeks to reduce actions of P/C brokers and need not touch upon the Life side.
 |
