633.11 Claim adjustment compensation. If an administrator adjusts or settles claims under an employee benefit plan, the commission, fees or charges that the principal pays the administrator may not be based on the employee benefit 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.
History: 1991 a. 39; 2021 a. 9.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 633 - Employee benefit plan administrators, principals, and pharmacy benefit managers.
633.04 - Written agreement required.
633.05 - Payment to administrator.
633.06 - Examination and inspection of books and records.
633.07 - Approval of advertising.
633.08 - Underwriting responsibilities.
633.11 - Claim adjustment compensation.
633.12 - Notification required.
633.15 - License; renewal, suspension, limitation, revocation, penalty.