Ga. Comp. R. & Regs. R. 120-2-49-.10 - Compensation for Adjusting or Settling Claims

(1) Compensation to an administrator for any policies in which the administrator adjusts or settles claims shall in no way be contingent on claims experience. This section does not prevent the compensation of an administrator from being based on premiums or charges collected or the number of claims paid or processed.

(2) An administrator shall not receive from any plan sponsor, insurer, self-insurer, covered individual or beneficiary under a plan any compensation or other payments except as expressly set forth in the written agreement between the administrator and the plan sponsor, insurer, or self-insurer.

Notes

Ga. Comp. R. & Regs. R. 120-2-49-.10

O.C.G.A. Secs. 33-2-9, 33-23-100et seq., 33-23-104, 33-23-105.

Original Rule entitled "Compensation for Adjusting or Settling Claims" adopted. F. May 19, 1993; eff. June 8, 1993. Amended: F. June 10, 1997; eff. June 30, 1997. Repealed: New Rule of same title adopted. F. Dec. 9, 2005; eff. Dec. 29, 2005.