2716b

(1) The investigation, adjustment, and resolution of any claim shall be made in the shortest reasonable period of time within the first ninety (90) days after said claim have been submitted to the insurer.(2) In the event that an insurer is unable to resolve a claim within the term established in subsection (1) of this section, he/she shall maintain in its records any documents attesting to the existence of a just cause to exceed the term previously provided.(3) The Commissioner may require the immediate resolution of any claim at any time if he deems that the same has been unduly and unfairly delayed or deferred. History —Ins. Code, added as § 27.162 on July 20, 1979, No. 165, p. 420, § 7; Aug. 9, 2008, No. 230, § 15, eff. 90 days after Aug. 9, 2008.