A.M. Best: Insurers Face Steep Costs In New York
November 22, 2018 by John Hilton
A new analysis by A.M. Best confirms what many insurers feared: New York’s best-interest rules are going to increase the costs of doing business in the state.
New York finalized its best-interest standard in July for both annuity and life insurance sales. The state’s best-interest regulation is considered one of the toughest in the country, one that New York officials are lobbying the National Association of Insurance Commissioners to endorse.
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Originally Posted at InsuranceNewsNet on November 14, 2018 by John Hilton.
Categories: Industry Articles