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In 1859, the New York State Legislature created the New York State Insurance Department, and assumed the functions of the Comptroller and Secretary of State relating to insurance. [1] The department began operations in 1860 and William F. Barnes was the first Superintendent of Insurance. [1]
The IIABA has spent more than $1 million in 2010 in lobbying efforts on federal crop insurance, insurance licensing reform, and other insurance issues. [2]The IIABA supported the National Association of Registered Agents and Brokers Reform Act of 2013 (H.R. 1155; 113th Congress), a bill which would reduce the regulatory costs of complying with multiple states' requirements for insurance ...
An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers under a contract. [1]
Brokers may earn a commission from insurance companies when they sell you a new policy. This commission essentially acts as a bonus from the insurer to the broker for bringing them new business.
The New York State Legislature unanimously confirmed Benjamin M. Lawsky on May 24, 2011, as New York State's first Superintendent of Financial Services. [9] From May 24, 2011, until October 3, 2011, Lawsky also was appointed, and served as, Acting Superintendent of Banks for the former New York State Banking Department. [9]
(Additional to these, it offers various training courses and workshops. [5]) The South African Institute of Stockbrokers [6] administers the six exams required to become a qualified stockbroker, so as to manage a member firm of the JSE; other requirements are 3 years' work experience, and specified education.
There are a number of major trade organizations that support the interests and needs of the independent insurance agent, including Agents For Change, [3] The National Organization of Life and Health Agents (NOLHA), [4] the Independent Insurance Agents & Brokers of America (The Big "I"), [5] and the National Association of Professional Insurance ...
The College of Insurance offered bachelor's and master's degrees in insurance and actuarial science. It provided professional exam preparatory seminars for insurance and actuarial science designations and held classes after business hours for working professionals in New York City. At its largest, total enrollment was approximately 400.
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