Insurer liable for acts of its agents and adjusters

(1) Any insurer shall be liable for the acts of its agents and adjusters when the agents or adjusters are acting: (a) In their capacity as representatives of the insurer; and (b) Within the scope of their authority. (2) Licensed individuals designated by a business entity to exercise the business entity's: (a) Agent license shall be deemed agents of an insurer if the business entity holds an appointment from the insurer; and (b) Adjuster license on behalf of an insurer shall be deemed an adjuster of the insurer.