The Rhode Island Department of Business Regulation posted requirements for producer compensation disclosure to its Web site.
Insurance Bulletin No. 2006-2 was issued Feb. 27 and amended March 31.
The bulletin sets out how a producers is to comply with state requirements for disclosure to an insured when the producer is to be paid a commission by the insurer.
The department notes that producers may use "any reasonable method" to make such a disclosure.
However, the department comments that while it does not require any specific method "some form of written communication would be the best pr...
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