If a credit card company charges a 2% fee for payments of policies/premiums, can the agency charge the consumer that fee for reimbursement?
Yes, but only to the extent of the fee that the credit card company charges to the agency. (This does not apply to bail bonds.) • Can an agent/agency charge a fee in addition to commission for servicing accounts. Answer: In specific circumstances, yes. Florida Statute 627.7295(5) permits an agent to charge a $10 per policy fee for PIP/PD policies only. The statute reads A licensed general lines agent may charge a per-policy fee not to exceed $10 to cover the administrative costs of the agent associated with selling the motor vehicle insurance policy if the policy covers only personal injury protection coverage as provided by s. 627.736 and property damage liability coverage as provided by s. 627.7275 and if no other insurance is sold or issued in conjunction with or collateral to the policy. The fee is not considered part of the premium. Florida Statute 626.593 applies to group health insurance coverage and states as follows: No person licensed as an insurance agent may receive any fee
Related Questions
- If a credit card company charges a 2% fee for payments of policies/premiums, can the agency charge the consumer that fee for reimbursement?
- Is there a charge for using the credit card machine for service fee payments (in addition to the $5.00 ticketing fee?
- Do credit card processors charge a termination fee if a merchant wants to switch to a different company?
