Rule 120-2-46-.07 - RevocationsA 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.Ga. Comp. R. & Regs. R. 120-2-46-.07
O.C.G.A. Secs. 33-2-9, 40-9-101.
Original Rule entitled "Revocations" adopted. F. May 26, 1989; eff. June 30, 1989, as specified by the Agency.Submitted for Publishing: Mar. 15, 2007.