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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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Licensed insurance producers may charge fees in addition to receiving commissions for the negotiation or procurement of insurance. A licensed certified insurance consultant may collect a fee for advisory services, but may not receive a commission on a policy related to services provided as a consultant unless the producer is a registered investment advisor, provided the producer makes proper disclosure. Conn. Gen. Stat. § 38a-707; Conn. Gen. Stat. § 38a-732; Conn. Gen. Stat. § 38a-734.
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Yes. A written memorandum is required when a licensed insurance producer charges a fee in addition to receiving a commission for the negotiation or procurement of insurance. In addition, producers are required to disclose compensation arrangements to clients prior to delivery of a new insurance contract. Conn. Gen. Stat. § 38a-707.
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Yes
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Yes. Conn. Gen. Stat. § 38a-731.
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