(1) This chapter applies to all third party administrators.
(2) The purposes of this chapter include:
(a) encouraging disclosure of contracts between insurers and third party administrators, both to potential insureds and to the commissioner;
(b) promoting the financial responsibility of third party administrators;
(c) subjecting persons administering insurance in Utah to the jurisdiction of the Utah commissioner and courts;
(d) regulating third party administrators' practices in conformity with the general purposes of this title; and
(e) governing the qualifications and procedures for the licensing of third party administrators.