Two insurance trade groups in New York filed a formal appeal of the New York Supreme Court Appellate Division’s decision upholding the state insurance department’s new broker disclosure rule.

The Professional Insurance Agents of New York says its ongoing negotiations with state regulators over the new broker compensation disclosure rule, set to take effect Jan. 1, 2010, have enabled the organization to create a guide explaining how to follow the new rule.

Mark Haraway, president of the Maryland Association of Health Underwriters, told IFAwebnews.com the group, like many other agents’ organizations, is still interpreting the sweeping changes of the Patient Protection and Affordable Care Act.

As New York works to finalize its own broker compensation disclosure rules, at least three mid-Atlantic states are also investigating the matter.

The possible end of bans on contingent commissions and New York’s proposal of new rules on broker compensation could lead to national and state regulatory changes affecting insurance sales.