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ISSUED 07/23/2008 FOR IMMEDIATE RELEASE

MEDIA ADVISORY: ATTORNEY GENERAL, INSURANCE DEPARTMENT HOLDING NEW YORK CITY PUBLIC HEARING JULY 25 ON BROKER COMPENSATION, DISCLOSURE

The New York State Insurance Department and the New York State Office of the Attorney General will hold a joint public hearing on July 25 in New York City on compensation arrangements for insurance agents and brokers and disclosure of fees to customers. The hearing will cover forms and disclosure of producer compensation, and if steering is associated with certain forms of compensation, the mechanisms that are most effective to curb such practices. It is designed to get the views of all interested parties on the proposed addition of a new regulation governing compensation and disclosure.

WHERE:
New York University
Eisner & Lubin Auditorium
4th Floor
Helen and Martin Kimmel Center for University Life
60 Washington Square South
New York, NY 10012

WHEN: Friday, July 25. The hearing will begin at 10 a.m. and continue until 5 p.m. or until testimony is complete.

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

Press Contacts:
OAG: Matthew Glazer 212-416-8060
NYSID: Ron Klug 212-480-5262, 347-203-1167

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Department of Financial Services

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