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?
Insurance producers acting as advisers may charge fees in addition to commissions; however, they may not collect such fees as premiums or charges for selling, soliciting or negotiating insurance.  Mass. Gen. Laws ch. 175, § 177;  Mass. Gen. Laws ch. 175, §
There appear to be no explicit disclosure requirements for producers.  However, licensed advisers are required to enter into a written contract, signed by the customer, in a form approved by the Commissioner, specifying the fees to paid and the services to be provided.  Mass. Gen. Laws ch. 175, § 177C;  Mass. Gen. Laws ch. 175, § 177D.
No, see fees in lieu of commissions
Yes, see fees in lieu of commissions
Insurance producers are not required to be licensed as insurance advisors.  Mass. Gen. Laws ch. 175, § 177. 

Malpractice Damage Cap

Damage Cap Amount

State Code

Massachusetts caps noneconomic damages at $500,000 in medical malpractice cases, but this does not apply in cases of disfigurement or permanent loss of bodily function. No cap on economic damages.