Producer FAQ
What are the rules regarding charging a broker fee or a policy fee?
Do I charge surplus line tax, fire marshal tax and/or stamping fee against the broker
fee/policy fee?
No. Surplus line tax, fire marshal tax and stamping fees are only assessed
against actual premium.
Are there restrictions or rules about how much I can charge? Are there rules about
what records I must keep relating to the fees charged?
Yes. See paragraph (e) of
Section 500-80.
Disclaimer
The materials and information contained herein are only synopses of laws, regulations and other information and do not constitute legal advice. It is recommended that you consult your legal advisers regarding application of state and federal laws and regulations to any particular situation. The Surplus Line Association of Illinois (SLAI) does not undertake and hereby disclaims any obligation to advise you of any change to laws and regulations or to the SLAI procedures.
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