Total Comments: 1
Posted: Thu Sep 10, 2015 04:40 pm Post Subject: Regulation 194
What does Regulation 194 require?
Answer: Simply stated of Regulation 194 requires an insurance producer to provide in all cases a mandatory initial disclosure to a purchaser. Section 30.3(b) of Regulation 194 requires a disclosure of compensation amounts, but only if the purchaser asks for that information. The text of the regulation, which sets forth the information that must be disclosed in both cases, may be found at dfs.ny.gov/insurance/r_finala/2010/rf194txt.pdf.