Utah § 31A-25-304 Liability of the insurer if administrator receives premium.

Utah Statutes

§ 31A-25-304 — Liability of the insurer if administrator receives premium.

Utah·Title 31A Insurance Code·Ch. 31A-25 Third Party Administrators·Part 31A-25-3 Administrative Practices

If an insurer utilizes the services of a third party administrator under the terms of a written agreement, as required under this chapter, the payment to the third party administrator of any premiums for insurance by or on behalf of the insured is considered as having been received by the insurer.  However, the payment of return premiums or claims by the insurer to the third party administrator is not payment to the insured or claimant.  This chapter does not limit any right of the insurer against a third party administrator resulting from the third party administrator's failure to make payments to the insurer, insureds, or claimants.

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If an insurer utilizes the services of a third party administrator under the terms of a written agreement, as required under this chapter, the payment to the third party administrator of any premiums for insurance by or on behalf of the insured is considered as having been received by the insurer. However, the payment of return premiums or claims by the insurer to the third party administrator is not payment to the insured or claimant. This chapter does not limit any right of the insurer against a third party administrator resulting from the third party administrator's failure to make payments to the insurer, insureds, or claimants.

Utah § 31A-25-304 (Liability of the insurer if administrator receives premium.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.