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Charge fee in addition to or in lieu of collecting commissions?
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Specific Disclosures or written agreements required to charge fees to a client?
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Admin fees for insurance placement?
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Charges for services unrelated to the placement of insurance?
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Additional licensing required?
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Producers may charge fees in lieu of commissions for the placement of insurance. Producers may charge service fees in connection with commercial lines policies only for services provided in addition to standard policy-placement services. Producers may not charge service fees in connection with personal lines policies. Or. Rev. Stat. § 744.077; Or. Admin. R. 836-071-0277; Or. Admin. R. 836-071-0274.
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Yes. Consultants must provide clients with written disclosure statements containing information such as a description of the work to be performed by the insurance consultant, a fee schedule and any other expenses that the insurance consultant charges. In addition, the consultant must inform clients if they will receive commissions for services provided, in addition to fees and other expenses paid by the client. Other information, such as the method of investment analysis and comparison used, and assumptions contributing to insurance recommendations for the client, must be disclosed before any financial insurance recommendation is made to the client. Or. Rev. Stat. § 744.650.
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Yes, see fees in lieu of commissions
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Yes, see fees in lieu of commissions
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Yes. Producers must be licensed as consultants to charge fees for consulting services in addition to commissions. Or. Rev. Stat. § 744.605.
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