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?
10.14(4) An insurer or a producer may not charge an additional fee for services that are customarily associated with the sale, solicitation, negotiation and servicing of an insurance policy.  This prohibition does not apply to assigned risk and commercial property/casualty policies. 
Any fees or other charges that are assessed to an insurance consumer must be fully disclosed.
Fees for non-placement services must be based upon a written agreement signed by the client in advance of the performance of the services under the agreement.   A copy of the agreement must be provided to the client at the time the agreement is signed by the client.   The agreement must specifically state (1) the service for which the fee is to be charged, (2) the amount of the fee to be charged or how it will be determined or calculated, and (3) that the client is under no obligation to purchase any insurance product through the insurance producer or consultant.  Iowa Admin. Code § 191-10.14; Iowa Admin. Code § 191-15.8 

Malpractice Damage Cap

Damage Cap Amount

State Code

On 2/16/23, Governor Reynolds signed into law legislation that creates a two-tiered cap on damages by retaining the $250,000 soft cap and adding a hard cap at $1 million for providers and $2 million for hospitals. The legislation includes an inflationary adjuster at 2.1% beginning in 2028. The bill took effect immediately upon the Governor’s signature.