Why Does New York Think They Are So Special?

[CaptiveBroke(r)]

The commission cap in NY is 98% for life insurance companies to pay agents.

I think that Fraternal companies, such as Foresters and CNA get around that and pay whatever street level or above is outside the state.

 

[Focus LTC]

NYS has always had a protectionist strategy for its FIRE industries.

Finance
Insurace
Real
Estate

FIRE

As with all protectionist strategies, the intent is to create or keep jobs in the state.

The unintended consequence is that only the largest and wealthiest companies can afford to set up a separate subsidiary in NYS which reduces competition, consumer choice, and leads to higher prices.

Its economics 101...

 

[arnguy]

Because it is The Empire State!

 

[Focus LTC]

Because it is The Empire State!

Thanks for the insight arnguy. Your posts are always very helpful and informative.

Thanks again!

Focus