{"id":7790,"date":"2019-02-11T12:37:53","date_gmt":"2019-02-11T17:37:53","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=7790"},"modified":"2019-02-18T15:04:05","modified_gmt":"2019-02-18T20:04:05","slug":"new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/","title":{"rendered":"New York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients"},"content":{"rendered":"

When you purchase insurance from a broker, investment advisor or insurance agent, shouldn\u2019t they have your best interests at heart?<\/p>\n

\"Proposed-Fiduciary-Duty-Rule-Poised-to-Pass-Leaves-Brokers-Seething-300x199\"New York\u2019s Regulation 187 was designed to do just that, and could take effect as early as August of 2019. In it, agents and brokers are required to have the \u201cbest interest\u201d of the consumer in mind when offering recommendations for their life insurance policies and annuities. Agents and brokers are not to consider any financial incentives or compensation that they might receive as a result of the financial products they offer while discussing different options for annuities and policies.<\/p>\n

While Regulation 187 is intended to supplement New York\u2019s existing consumer protection laws and \u201cfill in the gaps\u201d of regulations, it isn\u2019t being met with resounding applause by Wall Street. According to one trade industry group, a number of issues exist with the new law that can be problematic.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

When you purchase insurance from a broker, investment advisor or insurance agent, shouldn\u2019t they have your best interests at heart? New York\u2019s Regulation 187 was designed to do just that, and could take effect as early as August of 2019. In it, agents and brokers are required to have the \u201cbest interest\u201d of the consumer […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[725,595,1100],"tags":[1146,1575,1573,1344,1574],"class_list":["post-7790","post","type-post","status-publish","format-standard","hentry","category-breach-of-fiduciary-duty","category-investment-fraud","category-news","tag-fiduciary-duty","tag-naifa-nys","tag-regulation-187","tag-securities-fraud-attorney","tag-the-national-association-of-insurance-and-financial-advisors-new-york-state-inc"],"yoast_head":"\nNew York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients — Securities Arbitration Lawyers Blog — February 11, 2019<\/title>\n<meta name=\"description\" content=\"When you purchase insurance from a broker, investment advisor or insurance agent, shouldn\u2019t they have your best interests at heart? New York\u2019s Regulation — February 11, 2019\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients — Securities Arbitration Lawyers Blog — February 11, 2019\" \/>\n<meta name=\"twitter:description\" content=\"When you purchase insurance from a broker, investment advisor or insurance agent, shouldn\u2019t they have your best interests at heart? New York\u2019s Regulation — February 11, 2019\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients — Securities Arbitration Lawyers Blog — February 11, 2019","description":"When you purchase insurance from a broker, investment advisor or insurance agent, shouldn\u2019t they have your best interests at heart? New York\u2019s Regulation — February 11, 2019","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/","twitter_card":"summary_large_image","twitter_title":"New York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients — Securities Arbitration Lawyers Blog — February 11, 2019","twitter_description":"When you purchase insurance from a broker, investment advisor or insurance agent, shouldn\u2019t they have your best interests at heart? New York\u2019s Regulation — February 11, 2019","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"New York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients","datePublished":"2019-02-11T17:37:53+00:00","dateModified":"2019-02-18T20:04:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/"},"wordCount":554,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Proposed-Fiduciary-Duty-Rule-Poised-to-Pass-Leaves-Brokers-Seething-300x199.jpg","keywords":["Fiduciary Duty","NAIFA-NYS","Regulation 187","securities fraud attorney","The National Association of Insurance and Financial Advisors-New York State Inc."],"articleSection":["Breach of Fiduciary Duty","Investment Fraud","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/","url":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/","name":"New York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients — Securities Arbitration Lawyers Blog — February 11, 2019","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Proposed-Fiduciary-Duty-Rule-Poised-to-Pass-Leaves-Brokers-Seething-300x199.jpg","datePublished":"2019-02-11T17:37:53+00:00","dateModified":"2019-02-18T20:04:05+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"When you purchase insurance from a broker, investment advisor or insurance agent, shouldn\u2019t they have your best interests at heart? New York\u2019s Regulation — February 11, 2019","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/new-yorks-regulation-187-may-cause-problems-for-insurance-agents-brokers-and-their-clients\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"New York\u2019s Regulation 187 May Cause Problems For Insurance Agents, Brokers And Their Clients"}]},{"@type":"WebSite","@id":"https:\/\/www.silverlaw.com\/blog\/#website","url":"https:\/\/www.silverlaw.com\/blog\/","name":"Securities Arbitration Lawyers Blog","description":"Published by Securities Arbitration Lawyers \u2014 Silver Law Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silverlaw.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752","name":"Silver Law Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","caption":"Silver Law Group"}}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/7790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=7790"}],"version-history":[{"count":1,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/7790\/revisions"}],"predecessor-version":[{"id":7791,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/7790\/revisions\/7791"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=7790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=7790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=7790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}