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Are SL brokers permitted to charge fees? Is there a limit to the fee amount?

April 26, 2017brokers charge fee fees limit permitted SL

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Are SL brokers permitted to charge fees? Is there a limit to the fee amount?

1 Answer

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Yes, surplus lines brokers may add fees (as described in § 2703) to the premium amount charged by the insurer. No, there is no statutory limit to the amount a SL broker can charge as a fee. Fee amounts are not regulated by the Insurance Department at this time.