Licensing Requirement: Excess and surplus lines brokers are required to be licensed under Iowa law. Iowa Code § 522B.6-522B.7; Iowa Admin. Code § 191-10.4(7); Iowa Admin. Code § 191-10.5. To receive a
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? No. Is a producer required to
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Insurance producers may charge fees in addition to commissions
An insurance producer cannot charge fees other than commissions unless such fees are based on a written agreement signed by the client in advance of the performance of the service.
What entities are covered? “Any person who owns or licenses computerized data that includes a consumer’s personal information that is used in the course of the person’s business, vocation, occupation,