83-18-19 - Disclosure requirements of administrator. - Mississippi Statutes

§ 83-18-19. Disclosure requirements of administrator.
 

(1)  When the services of an administrator are utilized, the administrator shall provide a written notice approved by the insurer to covered individuals advising them of the identity of, and relationship among, the administrator, the policyholder and the insurer. 

(2)  When an administrator collects funds, the reason for collection of each item must be identified to the insured party and each item must be shown separately from any premium. Additional charges may not be made for services to the extent the services have been paid for by the insurer. 

(3)  The administrator shall disclose to the insurer or employer all charges, fees and commissions received from all services in connection with the provision of administrative services for the insurer, including any fees or commissions paid by insurers providing reinsurance. 
 

Sources: Laws,  1991, ch. 422, § 10, eff from and after July 1, 1991.