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 for procuring, servicing or providing advice in connection with insurance placements.  Vt. Stat. Ann. tit. 8, § 4802; Vt. Stat. Ann. tit. 8, § 4724 (14).
Yes.  An agent or broker must enter into a prior written agreement with a client in order to charge a fee to be paid by the client.  Vt. Stat. Ann. tit. 8, § 4724 (14).In addition, licensed insurance consultants may charge fees for consulting services provided there is a prior written agreement on a form approved by the commissioner, signed by the client, that outlines the services provided and the fee charged.  Vt. Stat. Ann. tit. 8, § 4802. 
No.  Although the law generally requires consultant’s to be licensed, licensed agents and brokers may not hold consultant's licenses.  Vt. Stat. Ann. tit. 8, § 4791, Vt. Stat. Ann. tit. 8, § 4802. 

Malpractice Damage Cap

Damage Cap Amount

State Code

No Cap