Oregon Statutes - Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Rental Company Limited Licenses - Section 744.732 - Contingent fee agreements.

(1) A third party administrator shall not enter into any agreement or understanding with an insurer the effect of which is to make the amount of the third party administratorís commissions, fees or charges contingent upon savings effected in the adjustment, settlement and payment of losses covered by the obligations of the insurer.

(2) This section does not prohibit:

(a) A third party administrator from receiving performance-based compensation for providing hospital or other auditing services; or

(b) A third party administrator from receiving compensation based on premiums or charges collected or on the number of claims processed.

(3) The third party administrator shall disclose to the insurer all charges, fees and commissions received from all sources in connection with the provision of administrative services for the insurer, including any fees or commissions paid by insurers providing reinsurance. [1991 c.812 §18]

Section:  Previous  744.718  744.720  744.722  744.724  744.726  744.728  744.730  744.732  744.734  744.736  744.738  744.740  744.800  744.802  744.804  Next

Last modified: August 7, 2008