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
Ala. Admin. Code r.
New Rule: December 21,
2005; effective December 31, 2005. Filed with LRS December 21, 2005. Rule is
not subject to the Alabama Administrative Procedure
Code of Ala.