Definition

The fee charged by brokers for arranging your insurance coverage. It’s part of the overall cost of getting the protection you need.

What to consider

  • Review regulatory fees as part of total costs.
  • Understand the legal requirements behind the fee.
  • Compare with other policies to assess competitiveness.

Real world scenarios

  • An insurer included an insurance regulatory fee on policy documents as mandated by state law.
  • A policyholder noticed a small regulatory fee on her premium statement.
  • A business review of premiums included a regulatory fee charged by the state insurance department.

Related terms

Insurance & Financial Protection