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 120-2-45 - CAPTIVE INSURANCE COMPANIES
Rule 120-2-45-.03 - Definitions
Current through Rules and Regulations filed through September 23, 2024
(1) "Commissioner" means the Commissioner of Insurance of the State of Georgia.
(2) "Captive manager" means a third party person that is designated to manage a captive insurance company and to correspond with the Commissioner regarding the business of such company.
(3) "Captive insurance company" or "company" means a captive insurance company as defined in O.C.G.A. § 33-41-2(4).
(4) "Employee captive manager" means an employee of the company who is designated to manage the company and to correspond with the Commissioner regarding the business of such company.
(5) "Person" means an individual, corporation, limited liability company, partnership, association, joint-stock company, trust, unincorporated organization, any similar entity, or any combination of the foregoing acting in concert.
(6) "Service provider" means a captive manager, producer, third party administrator, managing general agent, or an insurance intermediary for a company.
(7) All other terms as defined in O.C.G.A. § 33-41-1et seq. or, as appropriate, Title 33 of the Official Code of Georgia Annotated, which are used in this Regulation shall have the same meaning as in such references.
O.C.G.A. § 33-41-23.
