Ga. Comp. R. & Regs. 120-2-77-.03

Current through Rules and Regulations filed through October 29, 2024

Rule 120-2-77-.03 - Definitions

For purposes of this Regulation Chapter:

(1) "Commissioner" shall mean the Commissioner of Insurance of the State of Georgia.

(2) "Large Commercial Risk" shall mean a single legal entity (or a combination of legal entities controlled by the same person or group of persons by majority interest in such entities) that meets all of the following criteria:

(a) 25 or more full-time employees at the time of application;

(b) assets in excess of $1,500,000 at the time of application;

(c) annual revenues in excess of $2,500,000; and

(d)

(i) annual property and casualty premium threshold from Georgia operations in excess of $50,000; or

(ii) an annual written property and casualty premium threshold for risks having multistate locations or operations in excess of $250,000.

Ga. Comp. R. & Regs. R. 120-2-77-.03

O.C.G.A. Secs. 33-2-9, 33-9-3, 33-9-4.

Original Rule entitled "Definitions" adopted. F. Dec. 22, 1998; eff. Jan. 11, 1999.

Amended: F. Aug. 25, 2000; eff. Sept. 14, 2000.