Rule 120-2-63-.02 - Restrictions on Insurance Purchased by Purchasing Groups(1) A purchasing group which obtains liability insurance from an insurer not admitted in this state or a risk retention group shall inform each of the members of the group which have a risk resident located in this state that the risk is not protected by an insurance insolvency guaranty fund in this state and that the risk retention group or insurer may not be subject to all insurance laws and regulations of this state.(2) No purchasing group may purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole; however, coverage may provide for a deductible or self-insured retention applicable to individual members.Ga. Comp. R. & Regs. R. 120-2-63-.02
O.C.G.A. Secs. 33-2-9, 33-40-1, 33-40-16.
Original Rule entitled "Restrictions on Insurance Purchased by Purchasing Groups" adopted. F. Sept. 8, 1993; eff. Sept. 28, 1993.