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New York Eases Compensation Disclosure Mandate for Producers

East News • July 10, 2009
The New York State Insurance Department this week released a new draft of a rule governing when and how insurance producers must disclose their compensation and competing quotes to customers. The ...

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Subject: Compensation Disclosure

Posted On: July 23, 2009, 9:45 am CDT
Posted By: Puzzled
Comment:
I am puzzled because I have always known that insurance agents made a commission for selling insurance. My father (who was a steelworker) told me. Since I became an agent, no one has ever asked me how I get paid or by whom. I would hazard a guess that all of my customers know that I make a commission. Some have said something about commission as an off-the-wall comment when talking about how they have to work late and how much they appreciate our extended hours. I have told some customers what our commission is, and they said they would not work our hours for that amount. Many carriers post the fact that they pay a commission on their web site and on their insurance policies. What else could possibly be needed? Common sense tells me that most people already know how agents get paid.
Subject Posted By Posted On
Compensation Disclosure Puzzled
Jul 23, 2009, 9:45 am
Spitzer Rick
Jul 13, 2009, 8:54 am
RE: RE: Compensation Disclosure End result
Jul 10, 2009, 6:29 pm
RE: Compensation Disclosure alex
Jul 10, 2009, 2:22 pm
Compensation Disclosure End result
Jul 10, 2009, 2:03 pm
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