About the author

Tony Ondrusek is founder and publisher of Insurance & Financial Advisor and IFAwebnews.com.

More by Tony Ondrusek »
Contact Tony Ondrusek »

Connecticut is the first state to increase agent and broker license and license renewal fees as a way to cope with declining state tax revenues, according to a report on IFAwebnews.com.

Not only did the state legislature double license fees, but is also doubled the fees for surplus lines brokers (increased from $125 to $250), and for filings for appointments, and even to get copies of licenses. The new law went into effect without the signature of the state’s Republican governor, who wanted the legislature to first find ways to cut expenses before raising fees. Her plea fell on deaf ears.

Now that one state has taken the plunge, it seems logical that others will jump on the bandwagon. After all, no legislator ever saw a fee or tax that he or she could resist.