As a well-known imniste in the insurance industry, what do you expect from brokerage fees and other fee information if you were the purchaser of the insurance? Do to others what you want them to do for you and you are probably free at home. A: The broker`s loan must be issued only to the broker and submitted by the broker to the CDI, and not to the various manufacturers who register on the broker`s business unit license. Finally, I would like to say that states have different rules with regard to brokerage fees and, therefore, brokerage fees, so as not to mislead you. They also differ on whether these fees are subject to premium tax. States also have different rules on stamp duty and whether they are also subject to premium tax. In general, the wholesaler does most of the work to ensure that insurers receive the appropriate information. And wholesalers have the right to collect wholesale brokerage fees for their insurance efforts as well as access to insurance markets that can withstand the risk. If you wish to calculate a brokerage fee for the transaction of personal lines (personal automobile or homeowner), you must use the Standard Broker Fee Agreement or a custom agreement containing a language that does not conflict with the Standard Broker Fee Agreement. You must also use the Standard Fee Disclosure Form and provide the insured with a copy of the „Automobile“ leaflet or the „Owners“ newsletter on the CDI website.
(California Code of Regulations Nr. 2189.1 s. „Broker Fee Regulations“) I recommend checking the brokerage fairy regulations on the CDI website, as they include other important conditions and requirements for collecting a brokerage fee for trading with personal lines. In addition, brokerage fees may be subject to certain legal restrictions. For example, the retail broker fee of florida caps at $35, whether approved or not. In the surplus line market, some states such as Minnesota treat brokerage fees as an excess line premium and subject these fees to excess line premium tax. Retail producers are hard-working people. A retail business can get into trouble if no experienced broker is responsible at least once a year for auditing the company`s existing brokerage fee agreements.