Insight and Intelligence on the Global Facultative Markets

5 February 2012

New York proposes reintroduction of contingent commissions

16 December 2009

The New York State Insurance Department has begun the process of formally implementing changes to insurance regulation that could see a reintroduction of the contingent commissions lost in the Spitzer era by as early as mid-January 2010.

The department, headed by Superintendent James Wrynn published proposed regulations amending producer compensation transparency in the New York State bulletin on 2 December.

Whilst expressly allowing contingent commissions, the proposed new rules mandate full disclosure of all remuneration by the intermediary who must...

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Share: This article was published as part of issue December 2009/2

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