Sullivan Financial Group, Inc. v. Wrynn

OPINION OF THE COURT

Richard M. Platkin, J.

Petitioners bring this CPLR article 78 proceeding seeking to annul Regulation 194 of the New York State Insurance Department. Regulation 194 requires licensed producers of insurance *369to disclose to prospective purchasers the incentive compensation that they will receive from insurers or third parties based in whole or in part on the sale of insurance. Petitioners maintain that the Superintendent of Insurance (the Superintendent) lacks the statutory authority to promulgate the challenged regulations, the regulations lack an adequate factual predicate,…