Fees

{
  "id": "MLC-T-INS-001484",
  "term": "Fees",
  "field": "Insurance and risk management",
  "definition": "Charges levied for services rendered by professionals, such as insurance brokers, agents, or consultants, or for specific administrative actions related to an insurance policy. These payments compensate for expertise, advice, or the processing of transactions. Fees can be a fixed amount, a percentage of the premium, or an hourly rate.",
  "url": "https://mlchart.com/terminology/insurance/fees/"
}