LegalFix
Sign In

27-1-25-5.5. Insurer responsibilities

IN Code § 27-1-25-5.5 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 5.5. (a) If an insurer uses the services of an administrator, the insurer is responsible for:

(1) determining the:

(A) benefits;

(B) premium rates;

(C) underwriting criteria; and

(D) claims payment procedures;

that apply to the coverage; and

(2) securing reinsurance.

(b) An insurer shall provide to an administrator, with the written agreement required under section 2 of this chapter:

(1) the rules that the administrator must follow in administering the coverage, as determined under subsection (a); and

(2) the responsibilities of the administrator as to administering the coverage.

(c) An insurer that uses the services of an administrator has sole responsibility for the competent administration of benefit programs provided by the insurer.

(d) If an administrator administers benefits for more than one hundred (100) covered individuals on behalf of an insurer, the insurer shall, not less than semiannually, review the operations of the administrator. At least one (1) of the semiannual reviews must be an onsite audit of the operations of the administrator.

As added by P.L.160-2003, SEC.9.

Previous Section
27-1-25-5. Advertising
Next Section
27-1-25-6. Fiduciary status of administrator; fiduciary accounts