Iowa Admin. Code r. 191-58.7 - Written agreement
(1) The
written agreement required by Iowa Code section
51012.
shall include a statement of duties that the third-party administrator is
expected to perform on behalf of the insurer and the lines, classes or types of
insurance for which the third-party administrator is to be authorized to
administer The agreement shall make provision with respect to underwriting,
claims handling and other standards pertaining to the business underwritten by
the insurer The rules pertaining to these matters shall be provided, in
writing, by the insurer to the third-party administrator, pursuant to Iowa Code
section
51012.
and rule 191-58.7 (505,510).
(2)
The insurer or third-party administrator may, with written notice, terminate
the written agreement for cause as provided in the agreement. The insurer may
suspend the underwriting authority of the third-party administrator during the
pendency of any dispute regarding the cause for termination of the written
agreement. The insurer shall fulfill any lawful obligations with respect to
policies affected by the written agreement, regardless of any dispute between
the insurer and the third-party administrator
(3) The requirements of this rule shall also
apply to any insurer that contracts with a person exempt from licensure,
pursuant to the exceptions set forth in subrule 58.3(1), to act as a
third-party administrator, unless that person and the insurer are the
same.
Notes
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