N.Y. Legislative Insurance Panel to Hear Brokerage Compensation Issues Jan. 7

December 31, 2004

A New York Assembly Committee hearing into insurance brokerage practices, originally scheduled for Dec. 6, has been rescheduled for Friday, Jan 7.

The hearing will be held in the auditorium of the U.S. Customs House, 1 Bowling Green, in Manhattan, beginning at 9:30 a.m.

Assemblyman Alexander “Pete” Grannis is chair of the committee.

Among those expected to testify are Eliot Spitzer,
New York State Attorney General; Greg Serio, Superintendent,
New York State Insurance Department; Janice Ochenkowski, Vice President – External Affairs, Risk and Insurance Management Society; Sharon Emek, CBS Coverage Group; and Craig Berrington, Senior Vice President and General Counsel, American Insurance Association (AIA)

According to the original statement, the purpose of the hearing is “to investigate the oversight of insurance licensees and determine the need for enforcement and legislative remedies in order to restore integrity to insurance markets that have been shaken to their core by the widespread fraud and corrupt practices revealed in ongoing investigations by N.Y. State Attorney General Eliot Spitzer.”

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