(1) This chapter applies to all third party administrators.
(2) The purposes of this chapter include: (a) encouraging disclosure of contracts between insurers and third party administrators, both to potential insureds and to the commissioner; (b) promoting the financial responsibility of third party administrators; (c) subjecting persons administering insurance in Utah to the jurisdiction of the Utah commissioner and courts; (d) regulating third party administrators' practices in conformity with the general purposes of this title; and (e) governing the qualifications and procedures for the licensing of third party administrators.
(a) encouraging disclosure of contracts between insurers and third party administrators, both to potential insureds and to the commissioner;
(b) promoting the financial responsibility of third party administrators;
(c) subjecting persons administering insurance in Utah to the jurisdiction of the Utah commissioner and courts;
(d) regulating third party administrators' practices in conformity with the general purposes of this title; and
(e) governing the qualifications and procedures for the licensing of third party administrators.
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