Ala. Admin. Code r. 482-1-135-.08

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-135-.08 - Post Mediation

Within 5 days of the conclusion of the conference the mediator shall file with the Department a mediator's status report indicating whether or not the parties reached a settlement. If the parties reached a settlement, the mediator shall include a copy of the settlement agreement with the status report. The insured shall have 3 business days within which he or she may rescind any settlement agreement provided that the insured has not cashed or deposited any check or draft disbursed to him or her for the disputed matters as a result of the conference. In order to rescind the settlement, the insured must return the check or draft to the insurer. Any other rights the insured or insurer may have under the policy or at law shall not be effected by the insured's decision not to participate in this claims resolution process or by the parties lack of success in resolving the claim under this process.

Author: Commissioner of Insurance

New Rule: December 21, 2005; effective December 31, 2005. Filed with LRS December 21, 2005. Rule is not subject to the Alabama Administrative Procedure Act.

Statutory Authority:Code of Ala. 1975, § 27-2-17.