Title 83, Insurance

(1) No person, firm, association or corporation acting in the capacity of a managing general agent shall place business with an insurer unless there is in force a written contract between the parties which sets forth the responsibilities of each party and where both parties share…

(1) The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each managing general agent with which it has done business. (2) If a managing general agent establishes loss reserves, the insurer shall annually obtain the opin…

An administrator may use only such advertising pertaining to the business underwritten by an insurer as has been approved in writing by the insurer in advance of its use.

(1) If the commissioner finds after a hearing conducted in accordance with Section 83-6-39, Mississippi Code of 1972, that any person has violated Sections 83-18-101 through 83-18-111, the commissioner may order:(a) For each separate violation, a penalty in an amount not to excee…

(1) If an insurer utilizes the services of an administrator, the insurer shall be responsible for determining the benefits, premium rates, underwriting criteria and claims payment procedures applicable to such coverage and for securing reinsurance, if any. The rules pertaining to…

(1) All insurance charges or premiums collected by an administrator on behalf of or for an insurer or insurers, and the return of premiums received from that insurer or insurers, shall be held by the administrator in a fiduciary capacity. Such funds shall be immediately remitted …

(1) An administrator shall not enter into any agreement or understanding with an insurer in which the effect is to make the amount of the administrator’s commissions, fees or charges contingent upon savings effected in the adjustment, settlement and payment of losses covered by t…

(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 admin…

Any policies, certificates, booklets, termination notices or other written communications delivered by the insurer to the administrator for delivery to insured parties or covered individuals shall be delivered by the administrator promptly after receipt of instructions from the i…

(1) No person shall act as, or offer to act as, or hold himself out to be an administrator in this state without a valid certificate of authority as an administrator issued by the commissioner. (2) Applicants to be an administrator shall make an application to the commissioner up…

Upon request from an administrator, the commissioner may waive the application requirements of subsection (2) of Section 83-18-23 if the administrator has a valid certificate of authority as an administrator issued in a state which has standards for administrators that are at lea…

(1) Each administrator shall file an annual report for the preceding calendar year with the commissioner on or before March 1 of each year, or within such extension of time therefor as the commissioner for good cause may grant. The report shall be in the form and contain such mat…

(1) The certificate of authority of an administrator shall be suspended or revoked if the commissioner finds that the administrator:(a) Is in an unsound financial condition;(b) Is using such methods or practices in the conduct of its business so as to render its further transacti…

(1) No person shall act as or hold himself out to be an administrator in this state, other than an adjuster licensed in this state for the kinds of business for which he is acting as an adjuster, unless he shall hold a license as an administrator issued by the Mississippi Commiss…

(1) No administrator shall act as such without a written agreement between the administrator and the insurer or employer, and such written agreement shall be retained as part of the official records of both the insurer or employer and the administrator for the duration of the agr…

If an insurer utilizes the services of an administrator, the payment to the administrator of any premiums or charges for insurance by or on behalf of the insured party shall be deemed to have been received by the insurer, and the payment of return premiums or claim payments forwa…

(1) Every administrator shall maintain and make available to the insurer or employer complete books and records of all transactions performed on behalf of the insurer or employer. The books and records shall be maintained in accordance with prudent standards of insurance record k…