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N.Y. Legislator Reschedules Broker Fee Hearing

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NU Online News Service, Dec. 30, 1:35 p.m. EST

A New York State Assemblyman’s hearing on the broker compensation scandal has been rescheduled for Friday, Jan. 7.

The Assembly Insurance Committee plans to meet in New York City at the U.S. Custom House Auditorium at 1 Bowling Green at 9:30 a.m.

Committee Chairman Alexander Grannis, D-Manhattan, plans to hold the “Brokergate” hearing, which will include industry members and representatives from the agent, broker and insurer communities as well as state Insurance Superintendent Gregory V. Serio.

The assemblyman says the meeting is being held to investigate the oversight of insurance licensees and determine the need for enforcement and legislative remedies.

Grannis says his purpose is to “restore integrity to insurance markets that have been shaken to their core by the widespread fraud and corrupt practices revealed in ongoing investigations by New York State Attorney General Eliot Spitzer.”


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