41-1030. PRODUCER COMPENSATION. (1) For purposes of this section:
(a) "Consumer" means an insured, a prospective insured or an employer group.
(b) "Retail producer" means a producer who solicits, negotiates with or sells an insurance contract directly to a consumer.
(c) "Wholesale producer" means a producer who solicits, negotiates or sells an insurance contract directly with a retail producer, but not with a consumer.
(2) Notwithstanding any other provision of title 41, Idaho Code, and as provided in this subsection, retail producers and wholesale producers may charge a fee or be compensated by a combination of fees and commissions.
(a) Before charging a fee to a consumer, a retail producer shall provide to the consumer a written statement that describes the services the retail producer will perform and the fees the retail producer will receive. Acceptance by the consumer of a fee arrangement shall be evidenced by the consumer signing and dating the fee statement.
(b) Before charging a fee to a retail producer, a wholesale producer shall provide to the retail producer a written statement that describes the services the wholesale producer will perform and the fees the wholesale producer will receive. Information regarding the amount of the fees charged by the wholesale producer shall be disclosed in writing on the face of the policy as a separately itemized charge.
History:
[41-1030, added 2002, ch. 359, sec. 1, p. 1017.]
Structure Idaho Code
Chapter 10 - PRODUCER LICENSING
Section 41-1001 - PURPOSE AND SCOPE.
Section 41-1002 - TERMS CONSTRUED.
Section 41-1003 - DEFINITIONS.
Section 41-1004 - LICENSE REQUIRED.
Section 41-1005 - EXCEPTIONS TO LICENSING.
Section 41-1006 - APPLICATION FOR EXAMINATION.
Section 41-1007 - APPLICATION FOR PRODUCER LICENSE.
Section 41-1008 - PRODUCER LICENSE.
Section 41-1009 - NONRESIDENT PRODUCER LICENSE.
Section 41-1010 - NONRESIDENT PRODUCERS — SERVICE OF PROCESS.
Section 41-1011 - ISSUANCE — REFUSAL OF LICENSE.
Section 41-1012 - EXEMPTION FROM EXAMINATION.
Section 41-1013 - CONTINUATION — EXPIRATION OF LICENSES — CONTINUING EDUCATION STATEMENT.
Section 41-1014 - ASSUMED NAMES.
Section 41-1015 - TEMPORARY LICENSING.
Section 41-1016 - ADMINISTRATIVE PENALTY — SUSPENSION, REVOCATION, REFUSAL OF LICENSE.
Section 41-1017 - COMMISSIONS.
Section 41-1018 - APPOINTMENTS.
Section 41-1019 - NOTIFICATION TO DIRECTOR OF TERMINATION.
Section 41-1020 - RECIPROCITY.
Section 41-1021 - REPORTING OF ACTIONS.
Section 41-1022 - INSURERS MUST ACCEPT BUSINESS THROUGH LICENSED PRODUCERS ONLY.
Section 41-1023 - COUNTERSIGNATURE OF POLICIES — POWER OF ATTORNEY.
Section 41-1024 - REPORTING AND ACCOUNTING FOR PREMIUMS.
Section 41-1026 - PROCEDURE FOLLOWING SUSPENSION, REVOCATION, DENIAL — REINSTATEMENT.
Section 41-1028 - INACTIVE STATUS.
Section 41-1029 - SEVERABILITY.
Section 41-1030 - PRODUCER COMPENSATION.
Section 41-1037 - REQUIREMENTS FOR BAIL AGENTS — FINDINGS — PURPOSE.
Section 41-1038 - DEFINITIONS.
Section 41-1039 - LICENSE REQUIRED.
Section 41-1040 - BOND REQUIRED.
Section 41-1042 - COLLECTIONS AND CHARGES PERMITTED.
Section 41-1044 - EARLY SURRENDER OF DEFENDANT TO CUSTODY — RETURN OF PREMIUM.
Section 41-1045 - RESPONSIBILITY FOR ACTIONS OF OTHERS.
Section 41-1081 - REQUIREMENTS FOR SALE OF PORTABLE ELECTRONICS INSURANCE — FINDINGS — PURPOSE.
Section 41-1082 - DEFINITIONS.
Section 41-1083 - LICENSURE OF VENDORS.
Section 41-1084 - REQUIREMENTS FOR SALE OF PORTABLE ELECTRONICS INSURANCE.
Section 41-1085 - AUTHORITY OF VENDORS OF PORTABLE ELECTRONICS.
Section 41-1086 - RESPONSIBILITY FOR ACTIONS OF OTHERS.
Section 41-1087 - SUSPENSION OR REVOCATION OF LICENSE.
Section 41-1088 - TERMINATION OF PORTABLE ELECTRONICS INSURANCE.
Section 41-1089 - APPLICATION FOR LICENSE AND FEES.
Section 41-1090 - SHORT TITLE.
Section 41-1091 - DEFINITIONS.
Section 41-1092 - REQUIREMENTS FOR LIMITED LINES TRAVEL INSURANCE PRODUCERS.
Section 41-1093 - REGISTRATION REQUIRED.
Section 41-1094 - TYPE OF POLICY.
Section 41-1095 - RESPONSIBILITY OF LIMITED LINES TRAVEL INSURANCE PRODUCERS.