Agents Groups Differ on Compensation Disclosure Letter

By Michael Whiteley, Eastern Bureau ChiefNew York's two top associations of agents and brokers differed Monday on the impact of a long-waited circular letter from the New York State Insurance Department implementing a new compensation disclosure regulation.The Professional Insurance Agents of New York (PIANY) said the letter, released by regulators late Friday, includes a series of concessions reached during recent negotiations."We think this is an essential step in the process, but there's more to do," said Matthew Guilbault, PIANY's director of government and industry affairs.But...