By Randall Kleinman, JD, CPCU, CLU Agents' Legal Issues provides a brief general overview of a complex area of law and neither the author nor Rough Notes intends it to be taken as legal advice for any specific legal problem. For a specific problem, consult legal counsel that understands the law of insurance agencies, and provide all the details.
Premiums are a fun topic.
Not to mention commissions. Traditional premiums are still the lifeblood of most agencies. In spite of a lot of talk a few years ago regarding fee-based consulting, the vast majority of agencies earn most of their income from premium transactions. Even on the life insurance side, fee-based financial planning has made less of an impact than was predicted a decade ago. Insurance payments and the role of the agent This article will look at a number of legal issues connected with premiums.