Indiana Code 27-1-15.6-24.1. Personal property and casualty fees
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Sec. 24.1. A licensed insurance producer may charge a reasonable fee for personal lines property and casualty insurance or services related to personal lines property and casualty insurance subject to the following requirements:
(2) The amount of a fee is subject to the approval of the commissioner.
(1) The amount of a fee and the basis for calculating a fee may not vary among personal lines insureds.
Terms Used In Indiana Code 27-1-15.6-24.1
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
As added by P.L.173-2007, SEC.12.