Ga. Comp. R. & Regs. 120-2-20-.02

Current through Rules and Regulations filed through May 10, 2024

Rule 120-2-20-.02 - Time Limitation on Filing Suit

No property, casualty, credit, marine and transportation, or vehicle insurance policy providing first party insurance coverage for loss or damage to any type of real or personal property shall contain a contractual limitation requiring commencement of a suit or action within a specified period of time less favorable to the insured than that specified in the "Standard Fire Policy" promulgated by the Commissioner in Chapter 120-2-19-.01 of these Rules and Regulations. The time limitation on filing suit imposed by this Rule is applicable only to the portion or portions of the policies providing first party property insurance coverage. Liability coverage and workers compensation coverage are specifically exempted from the requirements of this Rule.

Ga. Comp. R. & Regs. R. 120-2-20-.02

O.C.G.A. Secs. 33-2-9, 33-6-36, 33-32-1, 33-34-8.

Original Rule entitled "Time Limitation on Filing Suit" adopted as ER. 120-2-20-0.19-.02 adopted. F. and eff. February 20, 2006, the date of adoption.

Amended: ER. 120-2-20-0.21-.02 adopted. F. June 13, 2006; eff. June 20, 2006, as specified by the Agency.

Amended: Permanent Rule adopted. F. Sept. 22, 2006; eff. Oct. 12, 2006.