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?
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.
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.
Yes.  Conn. Gen. Stat. § 38a-731. 

Malpractice Damage Cap

Damage Cap Amount

State Code

No cap