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Locke Lord LLP | USA | 8 Mar 2010

Contingent commissions allowed for “Big Three” insurance brokers in New York, Illinois and Connecticut

Insurance regulators in New York, Illinois and Connecticut have reached an agreement to allow Aon Corp., Marsh & McLennan Companies Inc. and Willis Group Holdings plc (the “Big Three”) to receive contingent commission compensation from insurance carriers.

Article

Locke Lord LLP | USA | 11 Dec 2009

Proposed insurance producer transparency regulation is published in the New York State Register; prompts insurance industry trade group to prepare for suit against regulators

The New York Insurance Department (the "Department") has drafted a new regulation regarding the transparency of insurance producer compensation.

Article

Locke Lord LLP | USA | 28 Oct 2009

The New York Insurance Department updates proposed insurance producer compensation transparency rule; explains departure from Dinallo era

Matthew Gaul, special counsel for the Department, recently explained that the draft proposal for the disclosure of insurance producer compensation released by the Department last month differs from that proposed by former Superintendent Eric Dinallo in that the revised proposal does not differentiate between captive agents, independent agents and independent brokers.

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