Wyoming
Commission Alternatives - Fees and Requirements
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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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Insurance producers licensed as consultants may charge fees in lieu of or in addition to receiving commissions for insurance placement, provided such compensation is contemplated in the premium/charge for insurance filed with and approved by the commissioner and/or included in the policy. Wyo. Stat. Ann. § 26-9-220; Wyo. Stat. Ann. § 26-9-224; Wyo. Stat. Ann. § 26-13-121; Wyo. Code R. ch. 31, §§ 1-10.
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No
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Yes |
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Yes. In order to charge a fee for consulting services, a producer must have a consultant’s license. Wyo. Stat. Ann. § 26-9-220; Wyo. Code R. ch. 18, §§ 4 & 5.
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Malpractice Damage Cap
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Damage Cap Amount
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State Code
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Constitutional provision prohibiting caps.
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N/A
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*Click here for full list of malpractice damage caps by state