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 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.


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. 

Malpractice Damage Cap

Damage Cap Amount

State Code

Constitutional provision prohibiting caps.

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