Thursday, July 12, 2018

Arizona Insurance Agency Fees


In Arizona Agents Rules on Fees Differ Based on Line of Business


Arizona seems to allow an insurance agency to charge fees on Personal Lines insurance if they get a signed disclosure from the insured and the fee is reasonably related to the service provided.

The law allowing this states "This section does not apply to insurance producers transacting commercial insurance." Does that mean no fees can be charged for commercial lines policies or that commercial policy fees can be charged without a signed disclosure? I do not know.


Life insurance, annuity, long-term care or medicare supplement insurance are lines of business fro which an Arizona insurance agent cannot charge any additional fee.

Here is the link to this section of the Arizona Insurance Code...


Compliance

Simply Easier Payments is very concerned and aware of the compliance requirements for your agency.

No comments: