IIABNY and CIBGNY continue to file papers and return answers in their lawsuit opposing the implementation of Reg. 194; PIANY has kept up its drumbeat in negotiating with the NYSIDon various points that may impact agents and brokers should the regulation take effect. Meanwhile in the Greater New York area several meetings have been scheduled by the IIA of Suffolk County on September 21st and by the Tri County Association of Independent Agents on September 30th to help agents prepare for Reg. 194’s implementation. We believe that these complementary approaches will be helpful to agents but do hope along with many agents and brokers that the regulation itself will be undone…Some of the points that PIANY has tried to make with the department involve the following: PIANY requested that the NYSID consider extending the regulation’s effective date beyond Jan. 1, 2011, to give producers ample time to understand the requirements of the regulation and modify their agency workflows and management systems to comply. The NYSID indicated that it would consider such an extension during an August 26th meeting. PIANY reports progress on other issues, including:

• identifying which producer is required to comply with Reg. 194 when more than on retail licensee is involved in a transaction;

• how to describe compensation other than straight commission; more definitive language regarding what constitutes a renewal;

• outlining the scope of what compensation needs to be reported; and

• ensuring that direct writers’ employee producers must comply with aspects of the regulation that apply to them is intelligent work and it has found the NYSID in a cooperative spirit…Peter Browne has long been a leader in New York and was one of the great champions of the B.R.A.C.E. effort some years ago, trying to wall off banking and insurance which, in retrospect, still seems like a reasonable idea -although some areas of cooperation have proved to be O.K. Peter has just received the prestigious Samuel H. Weese Award. The American College named New Yorker Browne, co-founder of Price Raffel and Browne, as the recipient citing his work. Browne’s career spans nearly four decades-as a manager and leading producer representing Union Central Life, a UNIFI Company-and as a leader in vital industry organizations. The College cited Browne’s nine years of service as a Trustee of The American College, and his service on the Executive and Certification committees. Browne currently serves as the Vice Chairman of the Foundation Board and was instrumental in the creation and funding of the Larry R. Pike Chair in Insurance and Investments, sponsored by the Union Central Life Insurance Company. Browne has served as the President of the New York State Association of Insurance and Financial Advisors (NYSAIFA) and of its New York City chapter (NYCAIFA). He is the immediate past Treasurer and past Trustee of the Board of the National Association of Insurance and Financial Advisors (NAIFA). He is also a past Trustee of the National Board of the Life Underwriters Training Council (LUTC). In addition, he is a Past Trustee of GAMA International and a Past President of its New York City chapter. He holds the distinction of Top of the Table membership in the Million Dollar Round Table for the past twenty-five consecutive years and has received several awards in the profession, including:

• The Spencer L. McCarty Award (NYSAIFA)

• Julian S. Myrick Award (NYCAIFA)

• President’s Leadership Award (NYCAIFA)

• Ralph G. Englesman Award (New York City Life Managers)

 dBrowne has also served as a member of the Agents Advisory Board of Standard and Poors’, Congratulations, Peter…On another note, the Insurance Advocate has had an especially strong summer and has a particularly strong package ahead for the Fall, including several new advertisers and features. We hope you enjoy our product and thank you for reading the Insurance Advocate.