Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-49 - ADMINISTRATOR REGULATION
Rule 120-2-49-.10 - Compensation for Adjusting or Settling Claims
Current through Rules and Regulations filed through September 23, 2024
(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.
O.C.G.A. Secs. 33-2-9, 33-23-100et seq., 33-23-104, 33-23-105.
