Commission Alternatives - Fees and Requirements

Charge fee in addition to or in lieu of collecting commissions?
Specific Disclosures or written agreements required to charge fees to a client?
Admin fees for insurance placement?
Charges for services unrelated to the placement of insurance?
Additional licensing required?
Licensed insurance producers may charge fees in addition to receiving commissions for the negotiation or procurement of insurance. A licensed certified insurance consultant may collect a fee for advisory services, but may not receive a commission on a policy related to services provided as a consultant unless the producer is a registered investment advisor, provided the producer makes proper disclosure. Conn. Gen. Stat. § 38a-707; Conn. Gen. Stat. § 38a-732; Conn. Gen. Stat. § 38a-734.
Yes.  A written memorandum is required when a licensed insurance producer charges a fee in addition to receiving a commission for the negotiation or procurement of insurance.  In addition, producers are required to disclose compensation arrangements to clients prior to delivery of a new insurance contract.  Conn. Gen. Stat. § 38a-707.
Yes.  Conn. Gen. Stat. § 38a-731. 

Stop-Loss Information

Employer Size
Specific Stop Loss Restrictions
Aggregate Stop Loss Restrictions
Guaranteed Issue of Stop-Loss Policies
Other notes
Bulletin Numbers HC-95 and PC-75
2-50 employers
Prohibits specific deductible limits below $20,000
For employers with 50 or fewer covered employees, prohibits aggregate coverage attachment points of less than $4,000 per person, or 120% of expected claims or $20,000, whichever is greater. For employers with more than 50 covered employees, prohibits aggregate coverage attachment points of lower than 110% of expected claims

 Prohibits direct payment to covered individuals

Malpractice Damage Cap

Damage Cap Amount

State Code

No cap