Rule 120-2-47-.10. Cancellation of a Reimbursement Insurance Policy

1. (1) The issuer of a reimbursement insurance policy or surety bond shall not cancel such policy or bond until a notice of cancellation in accordance with O.C.G.A. Section 33-24-47 has been mailed or delivered to the Commissioner at the following address:

   Office of Commissioner of Insurance

   604 West Tower, Floyd Building

   #2 Martin Luther King, Jr. Drive

   Atlanta, Georgia 30334

   and to each insured provider, including but not limited to automobile dealers and third party administrators.

2. (2) The cancellation of a reimbursement insurance policy or surety bond shall not reduce the issuer's responsibility for vehicle service contracts issued by providers prior to the date of cancellation.

Authority: O.C.G.A. Secs. 33-2-9, 33-7-6.

History. Original Rule entitled "Cancellation of a Reimbursement Insurance Policy" adopted. F. Aug. 24, 1989; eff. Sept. 15, 1989, as specified by the Agency.

Amended: ER. 120-2-47-0.17-.10 adopted. F. and eff. September 16, 2005, the date of adoption.

Amended: Permanent Rule adopted. F. Dec. 9, 2005; eff. Dec. 29, 2005.

Amended: New title of "Cancellation of a Reimbursement Insurance Policy or Surety Bond." F. Nov. 1, 2012; eff. Nov. 21, 2012.