Agents' Liability Opens New Chapter in N.Y. Trust Debate

The liabilities New York's insurance agents and brokers may face in the wake of any future group self-insured trust failures has emerged as the newest topic of debate – spawned last week by the state's first definition of "insolvency" imposed as an emergency rule by the New York State Workers' Compensation Board (SWCB).Independent Insurance Agents & Brokers of New York (IIABNY) said its staff is reviewing the definition of insolvency the board put in place as an emergency rule to determine what – if any – impact it may have on errors and omissions (E&O) po...