- (1) The commissioner may revoke a waiver if the insurer who obtains the waiver fails to comply with any terms, conditions, or limitations established by the commissioner, the requirements of 33-2-2501, MCA, or if the waiver is causing harm to a consumer or causes material harm to the insurer's solvency.
- (2) The commissioner shall give the insurer written notice of intent to revoke the waiver, and the insurer shall have ten days to respond to the notice.
- (3) Following the insurer's response, if the commissioner is not satisfied that the condition warranting revocation is cured, the commissioner shall send final written notice revoking the waiver.
- (4) If the reasons described in (1) of this rule pose a threat of harm in the absence of immediate action, the commissioner may immediately revoke the waiver pending the insurer's response.
Authorizing statute(s): 33-2-2501, MCA
Implementing statute(s): 33-2-2501, MCA
History: NEW, 2023 MAR p. 1398, Eff. 10/21/23.