Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-16 - LONG TERM CARE INSURANCE
Rule 120-2-16-.17 - Discretionary Powers of Commissioner
Universal Citation: GA Rules and Regs r 120-2-16-.17
Current through Rules and Regulations filed through September 23, 2024
The Commissioner may upon written request and after an administrative hearing, issue an order to modify or suspend a specific provision or provisions of this Regulation with respect to a specific long-term care insurance policy or certificate upon a written finding that:
(1) The modification or suspension would be in the best interest of the insureds;
(2) The purposes to be achieved could not be effectively or efficiently achieved without the modification or suspension; and
(3)
(a) The modification or suspension is necessary to the development of an innovative and reasonable approach for insuring long-term care; or
(b) The policy or certificate is to be issued to residents of a life care or continuing care retirement community or some other residential community for the elderly and the modification or suspension is reasonably related to the special needs or nature of such a community; or
(c) The modification or suspension is necessary to permit long-term care insurance to be sold as part of, or in conjunction with, another insurance product.
O.C.G.A. Secs. 33-2-9, 33-42-6, 33-42-7, 49-4-164, 49-4-165.
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