No plan or arrangement shall be used whereby any person, firm, or corporation other than the insurer or its designated claim representatives shall be authorized to settle or adjust claims. The creditor shall not be designated as a claim representative for the insurer in settling or adjusting claims; however, a group policyholder may, by arrangement with the group insurer, draw drafts or checks in payment of claims due only to the group policyholder subject to audit and review by the insurer. Nothing herein may be construed to relieve the insurance company from the responsibility for the proper settlement, adjustment, and payment of all claims to proper beneficiaries in accordance with the terms of the insurance contract.