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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 producers may not charge fees for insurance placement. Producers may charge fees for consulting services performed in the ordinary course of business. N.D. Admin. Code 45-02-02-10.
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Yes. If a producer charges a fee for consulting services, the fees for consulting services must be disclosed in a written agreement specifying the amount and extent of the services and compensation. The agreement must be signed by the client and in a form approved by the Commissioner. N.D. Admin. Code 45-02-02-9 & 45-02-02-10; N.D. Cent. Code § 26.1-26-35.
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No, see fees in lieu of commissions
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Yes, see fees in lieu of commissions
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No. A licensed consultant may not concurrently hold a license as an insurance producer, or surplus lines insurance producer in any line, and may not receive any remuneration from a licensed insurance producer in connection with consulting activities. N.D. Admin. Code 45-02-02-10; N.D. Cent. Code §§ 26.1-26-10 & 26.1-26-41.
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