§431:10B-111 Claims. (a) All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract.
(b) All claims shall be paid either by draft drawn upon the insurer or by check of the insurer to the order of the claimant to whom payment of the claim is due pursuant to the policy provisions, or upon direction of the claimant to one specified.
(c) No plan or arrangement shall be used whereby any person, firm or corporation other than the insurer or its designated claim representative shall be authorized to settle or adjust claims. The creditor shall not be designated as claims representative for the insurer in adjusting claims; provided that a group policyholder may, by arrangement with the group insurer, draw drafts or checks in payment of claims due to the group policyholder subject to audit and review by the insurer. [L 1987, c 347, pt of §2]
Section: Previous 431-10b-104 431-10b-105 431-10b-106 431-10b-107 431-10b-108 431-10b-109 431-10b-110 431-10b-111 431-10b-112 431-10b-113 431-10b-114 431-10c-101 431-10c-102 431-10c-103 431-10c-103.5 NextLast modified: October 27, 2016