|FROM:||Julianne M. Bowler, Commissioner of Insurance|
|DATE:||June 13, 2003|
|RE:||Bulletin Regarding Increase in Certain Division of Insurance Fees|
Pursuant to M.G.L. c. 7, sec. 3B, the Executive Office of Administration and Finance has approved an increase in the following fees charged pursuant to 801 CMR 4.02 by the Massachusetts Division of Insurance, effective July 1, 2003:
*The Division has already sent license renewal notices to Producers renewing in July 2003 with the old fee of $200.00 (property and/or casualty licenses pay $275.00 due to the lead paint surcharge) for individuals, and $66.66 per member for business entities. Therefore, Producers with a renewal date between July 1, 2003 and July 31, 2003 are not required to pay the new fee amounts. They should remit these old fee amounts with their renewal applications.
However, all new Producer license applications with a postmark date of July 1, 2003 or after and all Producers with a renewal date of August 1, 2003 or after are required to pay the new fees.
** Individual Producers with a property or casualty line of authority are also required to pay a $75.00 lead paint surcharge in addition to the license fee. Therefore, the total new fee due for these Producers is $300.00.