R590-154-9. Premium Reduction Through Commissions or Consulting Fees

(1) A licensee may not give or offer to give a premium reduction through a commission or a consulting fee back to the insurer for any purpose, including competition, unless the reduction is for expense savings and is justified by a reasonable standard and with reasonable accuracy. (2)(a) An insurer's underwriting files must document any savings to enable the commissioner to verify compliance. (b) The documentation must demonstrate legitimate expense savings realized by the insurer and its producer.