New York State

Insurance

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NEWS

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Contact:
Public Affairs
(212) 480-5262
www.ins.state.ny.us

Kermitt J. Brooks    Acting Superintendent of Insurance    25 Beaver Street  New York, N.Y. 10004

ISSUED 8/03/2009 FOR IMMEDIATE RELEASE

MEDIA ADVISORY: INSURANCE DEPARTMENT HOLDING PUBLIC HEARING IN BUFFALO AUGUST 6 ON LIFE INSURANCE, ANNUITY SALES SUITABILITY

The New York State Insurance Department will hold a public hearing on August 6 in Buffalo on practices related to the sale of increasingly complex life insurance and annuity products, particularly to seniors. The hearing will focus on suitability – whether a particular product is the right one for an individual consumer based on the consumer’s financial status, investment objectives, tax implications and other relevant information – of life insurance and annuity sales in New York State. At the hearing, the Department will try to find out if there is a problem concerning unsuitable sales of life insurance and annuities in New York, and if so, what should be done about it.

WHERE:
Buffalo & Erie County Public Library
Mason O. Damon Auditorium
Lafayette Square
Buffalo NY

WHEN: Thursday, August 6. The hearing will begin at 10 a.m. and continue until 5 p.m. or until testimony is complete, whichever comes first.

WEBCAST: The hearing will be webcast live at www.totalwebcasting.com/live/nysins.

Press Contacts:
Andrew Mais 212-480-5262
Ron Klug 347-203-1167

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