ND HB1144

Insurance producers may charge fees for services related to insurance contract sales, solicitation, negotiation, placement, or servicing, except on personal lines accounts like homeowners, auto, personal life, and health insurance.

Written disclosure on a commissioner-approved form must be provided before charging fees, including nature of services, itemized amounts, statement that fees are in addition to premiums, disclosure of any conflict of interest if the producer represents the insurer, and full disclosure of any commissions received.

Signed disclosure must be retained by the producer for at least five years and made available to the commissioner upon request; producers cannot rebate fees as an inducement to purchase specific policies or coverage.

Insurance producers charging fees for risk management services owe clients a higher standard of care, including duty to fully advise on insurance needs and inform of potential risks.

Producers may charge individuals a fee for paying agency-billed premiums by credit card or other electronic means if disclosed and agreed to in writing; commissioner may adopt rules as necessary.