Charging Broker Fees in Different States

CA All Day

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This question is for commercial lines only. I have broker appointments with all my carriers. I charge fees for my commercial policies. I want to expand to different state's that allow Fees to be charged. What states am i allowed to charge Broker fees?

in CA for commercial, you do not have to disclose your fees & there is no cap on how much you can charge. Are there any states that are like this?
 
This question is for commercial lines only. I have broker appointments with all my carriers. I charge fees for my commercial policies. I want to expand to different state's that allow Fees to be charged. What states am i allowed to charge Broker fees?

in CA for commercial, you do not have to disclose your fees & there is no cap on how much you can charge. Are there any states that are like this?

What do you mean there is no cap and you do not have to disclose fee's in CA?

If I was you, I would review what CA DOI has to say about that. Here is a link: Broker Fee Regulations Summary

I to would like to know, each states broker fees and limits. Any other agents or brokers know?
 
in SC, there is not a set limit. However, the broker fee must be disclosed, and it must be "reasonable".

For nonstandard auto policies, I have one carrier whose system makes it very simple to add the fee. I charge 15-25 dollars on those. It's not worth the trouble trying to devise a system of my own for a fee that small, so it's only with that particular carrier.

For something like an E&S homeowners, where I create the invoice anyway, 125.
 
too many grey areas by sc labeling it as a "reasonable" fee. A recent huge commercial account took weeks. what if they cancel, i would be working for free so i charged them a broker fee of 2,000 that was reasonable to me. the client paid it in full and had no problem.

What do you mean there is no cap and you do not have to disclose fee's in CA?

If I was you, I would review what CA DOI has to say about that. Here is a link: [/url]
I to would like to know, each states broker fees and limits. Any other agents or brokers know?

in line number 1. it says it only applies to personal lines.
 
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too many grey areas by sc labeling it as a "reasonable" fee. A recent huge commercial account took weeks. what if they cancel, i would be working for free so i charged them a broker fee of 2,000 that was reasonable to me. the client paid it in full and had no problem.



in line number 1. it says it only applies to personal lines.

It's a gray area, but probably by design. "Reasonable" is not likely the same in all cases.
 
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