385.060. Reporting and settlement of claims--who may adjust claims. - Missouri Statutes

Reporting and settlement of claims--who may adjust claims.

385.060. 1. All claims shall be promptly reported to theinsurer or its designated claims representative, and the insurershall maintain adequate claim files. All claims shall be settledpromptly and in accordance with the terms of the insurancecontract.

2. All claims shall be paid either by draft drawn upon theinsurer or by check of the insurer to the order of the claimantto whom payment of the claim is due pursuant to the policyprovisions, or upon direction of the claimant to one specified.

3. No plan or arrangement shall be used whereby any person,firm or corporation other than the insurer or its designatedclaims representative shall be authorized to settle or adjustclaims. The creditor shall not be designated as claimsrepresentative for the insurer in adjusting claims.

(L. 1977 H.B. 610 § 11)