The insurer may designate or engage one or more representatives for the purpose of investigating or settling claims, processing production reports, calculating reserves, printing of approved forms, and performing other administrative services authorized by law, provided: (1) such services are performed under the supervision and direction of the insurer and the insurer shall remain responsible for their proper performance; (2) the work product of representatives of the insurer are the property of the insurer and are retained in the possession of the insurer, together with the supporting data and information used in their preparation; and (3) all claims shall be promptly reported to the insurance company, or its designated claim representative, and all claims shall be settled as soon as reasonably possible and in accordance with the terms of the insurance contract.
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