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 may charge fees in lieu of or in addition to commissions for placement of insurance.  Utah Code Ann. § 31A-1-301, Utah Code Ann. § 31A-23a-401, Utah Code Ann. § 31A-23a-501. 
Yes.  Prior to performing consulting services, written disclosure must be provided to and signed by the client setting forth the fee and the consultant’s interest as an agent.  Utah Code Ann. § 31A-1-301, Utah Code Ann. § 31A-23a-401.
Yes, to charge a fee as a consultant, must be licensed as such.  Utah Code Ann. § 31A-1-301. 

Malpractice Damage Cap

Damage Cap Amount

State Code

$450,000 non-economic damage cap.