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Ohio: Broker Commission Disclosure Bills to be Introduced
On the heels of NCOIL's adoption of the Broker Commission Disclosure Model Act, two Ohio legislators plan to introduce legislation based on the model.
According to the Ohio Insurance Institute, a NAMIC state advocacy partner, Acting Senate Insurance Chair Jay Hottinger and House Insurance Chair Geoff Smith have indicated their intention to introduce companion bills.
The NCOIL model and, presumably, the companion bills would require disclosure when an intermediary receives compensation from both the consumer and the insurer. The language is similar, but improved to that adopted by the NAIC in December.
The Ohio General Assembly is on break this week and returns to work on April 5.
Direct questions to NAMIC State Affairs Manager Joe Thesing.
Latest State News
Ohio: DOI Holds Hearing on Proposed Changes to MAR (11/18/2008)
Ohio: New Rule on Bail Bond Agents Proposed (10/21/2008)
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