Monday, August 6, 2018

Insurance Agency Fees in Michigan

What Fees Can Insurance Agents Charge in Michigan



Insurance producers are not allowed to charge or pass a service fee to consumers for insurance policies sold in the admitted market.

Michigan is a non-broker state; therefore, insurance producers act as agents on behalf of their insurance companies instead of their clients.

The only exception applies to licensed surplus lines producers who may charge a fee not exceeding the statutory limit for surplus lines policies only.



Here is the link to a document on the Michigan rules...

https://www.michigan.gov/documents/difs/Market_Conduct_Agency_Audit_News_2017_560214_7.pdf


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