Louisiana Revised Statutes 22:1648 – Administrator; compensation
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Terms Used In Louisiana Revised Statutes 22:1648
- Insurer: means any person undertaking to provide life or health and accident insurance coverage or workers' compensation insurance in this state. See Louisiana Revised Statutes 22:1641
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
A. An administrator shall not enter into any 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 in 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.
B. 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.
Acts 1993, No. 144, §1; Redesignated from La. Rev. Stat. 22:3038 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.