Ga. Comp. R. & Regs. R. 120-2-46-.07 - Revocations
A certificate of self-insurance may be revoked by the Commissioner of Insurance upon the following grounds:
(a) The self-insurer has failed to satisfy
any judgment within thirty (30) days after such judgment has become
final;
(b) The self-insurer has
failed to pay any claim for which there is no reasonably disputed issue of fact
or law within (30) days of its submission;
(c) A payment is made by the authorized
surety insurer or a claim is made against securities held in trust by the
Commissioner of Insurance as a result of the self-insurer's failure to satisfy
any judgment or pay any claim for which there is no reasonably disputed issue
of fact or law;
(d) Failure to
maintain efficient claim handling procedures substantially equivalent to those
afforded by a policy of automobile liability insurance in compliance with
O.C.G.A. Chapter 33-34, the "Georgia Motor Vehicle Reparations Act";
(e) Failure to provide benefits and coverages
under O.C.G.A. Chapter 33-34, the "Georgia Motor Vehicle Accident Reparations
Act." Benefits required to be paid without regard to fault shall be payable
monthly as loss accrues. Such benefits are overdue if not paid within thirty
(30) days after the self-insurer receives reasonable proof of the fact and the
amount of loss sustained;
(f)
Failure to timely file with the Commissioner of Insurance the quarterly reports
required under this Chapter;
(g)
Cancellation or expiration of the surety bond by the surety insurer or the
self-insurer, unless proof is provided that the bond has been replaced or
securities filed as required under this Chapter; or
(h) Any other violation of this Chapter or
the orders of the Commissioner of Insurance under this Chapter.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.