633.11 Claim adjustment compensation.
633.11
633.11 Claim adjustment compensation. If an administrator adjusts or settles claims under a plan, the commission, fees or charges that the principal pays the administrator may not be based on the plan's loss experience. This section does not prohibit compensation based on the number or amount of premiums or charges collected, or the number or amount of claims paid or processed by the administrator.633.11 - ANNOT.
History: 1991 a. 39.