Can Your Insurance Agency Charge a Fee in Addition to Premiums
Having read through all the state insurance codes, bulletins, advisory opinions, notices, regulations and related material I can find - don't I know how to have fun - I have complied an extensive list on how an insurance agency needs to operate to be in compliance with its state's insurance regulators.
43 states have one or more specific rules or laws regarding insurance agency's ability to charge any fee in addition to the insurance premium.
The basic reason for these rules is to require the actual insurance rate to be meaningful. When insurance rates have to be filed and/or approved, allowing additional charges to be added on to the customer bill defeats the purpose of the regulation of the insurance rates. In today's jargon, it provides a hack of the insurance regulatory process.
We Know and Care About Your Compliance
At Simply Easier Payments we spend a great deal of effort understanding your business so we may provide our service in a way that never puts you or your business at risk.
We will never be perfect, but we will work hard and diligently.
We believe any long term business relationship requires this of us.