41-908. COMPENSATION TO THE ADMINISTRATOR. (1) An administrator shall not enter into an agreement or understanding with an insurer in which the effect is to make the amount of the administrator’s commissions, fees or charges contingent upon savings effected by the adjustment, settlement and payment of losses covered by the insurer’s obligations. This provision shall not prohibit an administrator from receiving performance-based compensation for providing hospital or other auditing services.
(2) The provisions of this section shall not prevent the compensation of an administrator from being based on premiums or charges collected or the number of claims paid or processed.
History:
[41-908, added 2010, ch. 31, sec. 2, p. 54.]
Structure Idaho Code
Chapter 9 - INSURANCE ADMINISTRATORS
Section 41-902 - WRITTEN AGREEMENT NECESSARY.
Section 41-903 - PAYMENT TO ADMINISTRATOR.
Section 41-904 - MAINTENANCE OF INFORMATION.
Section 41-905 - ADVERTISING — APPROVAL.
Section 41-906 - PREMIUM COLLECTION AND PAYMENT OF CLAIMS.
Section 41-907 - DELIVERY OF MATERIALS TO COVERED INDIVIDUALS.
Section 41-908 - COMPENSATION TO THE ADMINISTRATOR.
Section 41-909 - NOTICE TO COVERED INDIVIDUALS — DISCLOSURE OF CHARGES AND FEES.
Section 41-910 - REGISTRATION REQUIREMENT.
Section 41-911 - HOME STATE LICENSE.
Section 41-912 - NONRESIDENT ADMINISTRATOR LICENSE.
Section 41-913 - EXPIRATION AND RENEWAL OF ADMINISTRATOR LICENSE.
Section 41-914 - ANNUAL REPORT.
Section 41-915 - GROUNDS FOR DENIAL, SUSPENSION OR REVOCATION OF LICENSE.