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 commissions in connection with insurance transactions, and may also charge fees for consulting services.  Okla. Stat. tit. 36 § 1435.30. 
Yes.  All fees must be fully disclosed to clients.  Specifically, consulting fees may be charged only pursuant to a written agreement on a form approved by the commissioner stating the fee and services to be provided and signed by the producer and client.  Okla. Stat. tit. 36 § 1435.30. 
Yes, see fees in lieu of commissions
Yes, see fees in lieu of commissions

Malpractice Damage Cap

Damage Cap Amount

State Code

$350,000 cap for non-economic damages for OB/ER cases or if there’s an offer of judgment. No cap on economic damages.