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Service fees
Service fees for life business
Can a licensed producer charge a service fee on life insurance policies?
Surplus-lines policies—fees
If a surplus-lines broker charges the retail broker $25 to place a homeowners policy, can the retail broker pass along this charge to the policyholder?
Insured’s refusal to pay for MVR
Service fee regulation N.J.A.C. 11:17B requires that a producer who wants to charge a personal auto applicant for the costs of obtaining a motor vehicle report may do so, but must obtain a signed written fee agreement from the applicant. If an applicant refuses to pay the fee for the producer obtaining the MVR, may the producer refuse to assist the applicant in procuring personal automobile coverage?
Brokerage contracts and charging fees
Our agency has entered into a broker contract with an insurance company to sell personal-lines policies. Throughout the contract, we are designated as a broker. However, the contract gives us the authority to solicit applications, receive premiums and to bind coverage. Producers acting as agents for a company may not charge fees for the sale of personal-lines policies. Since we have been designated as a broker in the contract with the company, can our agency charge fees?
PAIP policies
If a PAIP policy is canceled for nonpayment and we must re-apply, can we charge a second service fee for the second application?
Service fees for MVRs—commercial lines
Can agents charge a fee to recover the costs of obtaining motor vehicle reports used to underwrite commercial policies?
Fee for a SAIP policy
Can I charge a service fee for placing a SAIP policy?
Acceptance of credit cards
A number of my clients pay me with credit cards and the merchant fees can get pretty expensive. Can I just go ahead and pass these fees on to the client?
Surety bond fees
Are surety bonds a commercial-lines product, for which a fee can be charged?
Service fees—personal auto insurance
What are the rules about producers charging service fees in connection with personal auto insurance policies?