§ 27-20.7-10 - Notice and disclosure of charges and fees.
SECTION 27-20.7-10
§ 27-20.7-10 Notice and disclosure ofcharges and fees. – (a) When the services of an administrator are utilized, the administrator shallprovide a written notice approved by the insurer to covered individualsadvising them of the identity of, and relationship among, the administrator,the policyholder and the insurer.
(b) When an administrator collects funds, the reason forcollection of each item must be identified to the insured party and each itemmust be shown separately from any premium. Additional charges may not be madefor services to the extent the services have been paid for by the insurer.
(c) The administrator shall disclose to the insurer allcharges, fees and commissions received from all services in connection with theprovision of administrative services for the insurer, including any fees orcommissions paid by insurers providing reinsurance.