Insurance policy transfer acknowledgements carry a capped fee, while related transfer and assignment services remain fee-free. Fees for acknowledging notice of transfer or assignment of insurance policies, including e-insurance policies, are capped at USD 5 for an IIO. No ... Summary
Insurance policy transfer acknowledgements carry a capped fee, while related transfer and assignment services remain fee-free.
Fees for acknowledging notice of transfer or assignment of insurance policies, including e-insurance policies, are capped at USD 5 for an IIO. No additional fee may be charged for other services connected with transfer or assignment, including recording the transfer or assignment. The restriction distinguishes the permitted acknowledgement charge from policy-servicing actions for which separate charges are prohibited.
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