|
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 consultants may charge a fee in lieu of or in addition to receiving commissions; however, a consultant may not receive a commission or other fee for the sale or service of insurance if he or she has received compensation from the client for consulting services on the same line of insurance within the last twelve months. Mont. Code Ann. § 33-18-212.
|
Yes. Any fee charged by a consultant must be pursuant to a written agreement that includes the insurance consultant's Montana insurance license number, is signed by the party to be charged and specifies or clearly defines the services to be provided and the amount of the consultant's compensation. A copy of the agreement must be maintained for three years. Mont. Code Ann. § 33-17-511. Note: this provision was revised May 2007 to specifically require discussion of the services to be provided by the consultant.
|
Yes, see fees in lieu of commissions
|
|
Yes. In order to charge a fee for consulting services, a consultant must be licensed. Mont. Code Ann. § 33-17-502.
|