Section 401 – Compensation not to be contingent on claims expense.

31A-25-401. Compensation not to be contingent on claims expense. The compensation paid to a third party administrator for any policies under which the third party administrator adjusts or settles claims may be contingent on claims experience only if the third party administrator discloses to the person whose plan is being administered any conflicts of interest […]

Section 402 – Notice to insureds regarding administration of policies.

31A-25-402. Notice to insureds regarding administration of policies. (1) If the services of a third party administrator are utilized, the third party administrator shall provide a written notice to the insureds, advising them of the identity of and relationship among the third party administrator, the policyholder, and any insurer issuing the policy. This notice shall […]