South Carolina

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 brokers may charge reasonable policy fees in connection with insurance placements.  S.C. Code Ann. § 38-45-160.
Yes.  The broker’s fee must be part of the contract with the insured.  S.C. Code Ann. § 38-45-160. 

Malpractice Damage Cap

Damage Cap Amount

State Code

Non-economic damages: $512,773 or facility against each provider adjusted annually for inflation. Total claim with multiple providers capped at $1,050,000. No cap on economic damages.