With health care reform on the horizon, the role of the insurance broker is likely to change along with the shifting environment of the health system. Federally mandated health insurance exchanges are going to play a bigger part in people’s search for coverage. The exchanges will, essentially, give consumers the ability to find their own health care policies and purchase these policies electronically. While this will be a popular trend amongst the average consumer, it may also be one that health care professional’s follow, which puts brokers and agents on…
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Insurance groups rally against New York rule that puts pressure on agents
Two insurance groups have filed an appeal with the New York Supreme court regarding a decision regarding the state’s new broker disclosure rule. The rule, New York Insurance Regulation 194, requires insurers to inform policyholders on how policies are paid out even if such information is not requested. Several other states have similar rules, much to the chagrin of the insurance industry that often withholds information it deems arbitrary. The two insurance groups are looking to have the rule revoked. The Independent Insurance Agents & Brokers of New York and…
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