(a) Payment to the administrator of any insurance premiums or charges by or on behalf of the insured shall be deemed received by the insurer.
(b) Payment of return premiums or claims by the insurer to the administrator shall not be deemed payment to the insured until the insured receives the payment.
(c) This section does not limit any right of the insurer against the administrator resulting from failure of the administrator to make payments to the insurer or insured.