New Jersey

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?
Producers acting as insurance brokers or insurance consultants may charge fees in addition to commissions for services rendered as insurance producers.  Producers acting as agents may not charge or receive fees for services rendered as an insurance producer.  N.J. Admin. Code § 11.17B-3.1. 
Yes.  A producer acting as a broker or consultant may charge a fee only under the terms of a written agreement signed by the customer stating that the fee is not part of the premium, specifying the services to be provided and the fee to be charged, and stating whether a commission will be received in connection with the sale of insurance.  N.J. Admin. Code § 11.17B-3.1. 
Producers may not charge fees for services rendered in connection with the sale or services of life or health insurance.  N.J. Admin. Code § 11.17B-3.2. 
There do not appear to be additional licensing requirements for licensed producers to act as brokers or consultants.

Malpractice Damage Cap

Damage Cap Amount

State Code

Only punitive damages capped.