Administering insurer to serve for three years subject toremoval for cause--duties--reports.
376.970. 1. The administering insurer shall serve for aperiod of three years subject to removal for cause. At least oneyear prior to the expiration of each three-year period of serviceby an administering insurer, the board shall invite all insurers,including the current administering insurer, to submit bids toserve as the administering insurer for the succeeding three-yearperiod. Selection of the administering insurer for thesucceeding period shall be made at least six months prior to theend of the current three-year period.
2. The administering insurer shall:
(1) Perform all eligibility and administrative claim-paymentfunctions relating to the pool;
(2) Establish a premium billing procedure for collection ofpremium from insured persons. Billings shall be made on a periodbasis as determined by the board;
(3) Perform all necessary functions to assure timely paymentof benefits to covered persons under the pool including:
(a) Making available information relating to the propermanner of submitting a claim for benefits to the pool anddistributing forms upon which submission shall be made;
(b) Evaluating the eligibility of each claim for payment bythe pool;
(4) Submit regular reports to the board regarding theoperation of the pool. The frequency, content and form of thereport shall be determined by the board;
(5) Following the close of each calendar year, determine netwritten and earned premiums, the expense of administration, andthe paid and incurred losses for the year and report thisinformation to the board and the department on a form prescribed bythe director;
(6) Be paid as provided in the plan of operation for itsexpenses incurred in the performance of its services.
Administering insurer to serve for three years subject toremoval for cause--duties--reports.
376.970. 1. The administering insurer shall serve for aperiod of three years subject to removal for cause. At least oneyear prior to the expiration of each three-year period of serviceby an administering insurer, the board shall invite all insurers,including the current administering insurer, to submit bids toserve as the administering insurer for the succeeding three-yearperiod. Selection of the administering insurer for thesucceeding period shall be made at least six months prior to theend of the current three-year period.
2. The administering insurer shall:
(1) Perform all eligibility and administrative claim-paymentfunctions relating to the pool;
(2) Establish a premium billing procedure for collection ofpremium from insured persons. Billings shall be made on a periodbasis as determined by the board;
(3) Perform all necessary functions to assure timely paymentof benefits to covered persons under the pool including:
(a) Making available information relating to the propermanner of submitting a claim for benefits to the pool anddistributing forms upon which submission shall be made;
(b) Evaluating the eligibility of each claim for payment bythe pool;
(4) Submit regular reports to the board regarding theoperation of the pool. The frequency, content and form of thereport shall be determined by the board;
(5) Following the close of each calendar year, determine netwritten and earned premiums, the expense of administration, andthe paid and incurred losses for the year and report thisinformation to the board and the department on a form prescribed bythe director;
(6) Be paid as provided in the plan of operation for itsexpenses incurred in the performance of its services.
Administering insurer to serve for three years subject toremoval for cause--duties--reports.
376.970. 1. The administering insurer shall serve for aperiod of three years subject to removal for cause. At least oneyear prior to the expiration of each three-year period of serviceby an administering insurer, the board shall invite all insurers,including the current administering insurer, to submit bids toserve as the administering insurer for the succeeding three-yearperiod. Selection of the administering insurer for thesucceeding period shall be made at least six months prior to theend of the current three-year period.
2. The administering insurer shall:
(1) Perform all eligibility and administrative claim-paymentfunctions relating to the pool;
(2) Establish a premium billing procedure for collection ofpremium from insured persons. Billings shall be made on a periodbasis as determined by the board;
(3) Perform all necessary functions to assure timely paymentof benefits to covered persons under the pool including:
(a) Making available information relating to the propermanner of submitting a claim for benefits to the pool anddistributing forms upon which submission shall be made;
(b) Evaluating the eligibility of each claim for payment bythe pool;
(4) Submit regular reports to the board regarding theoperation of the pool. The frequency, content and form of thereport shall be determined by the board;
(5) Following the close of each calendar year, determine netwritten and earned premiums, the expense of administration, andthe paid and incurred losses for the year and report thisinformation to the board and the department on a form prescribed bythe director;
(6) Be paid as provided in the plan of operation for itsexpenses incurred in the performance of its services.
