Property or casualty insurance policy underwriting fee -- Requirement for prior approval

for prior approval. (1) Any policy fee as related to underwriting expenses for a property or casualty insurance contract, issued or renewed on or after July 14, 2000, by an agent licensed under KRS 304.9-085, shall be deemed fully earned. The fee shall only be collected if coverage is provided. (2) All fees referred to in subsection (1) of this section shall be submitted to the commissioner for prior approval.