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 120-2-46 - AUTOMOBILE SELF-INSURANCE REGULATION
Rule 120-2-46-.03 - Application for Self-Insurance

(a) A list of all vehicles registered in the name of the applicant including the make, model, year, manufacturer's identification number, title certificate number or other proof of ownership, and license plate number (if issued). Lists compiled by magnetic tape, floppy disk, or by other electronic data systems shall be permitted if acceptable to the Commissioner;

(b) A complete audited financial statement of assets, liabilities, including the projected impact of open and pending claims, and net worth for the latest financial year of the applicant in sufficient detail to show that the applicant possesses and will continue to possess the ability to pay judgments or valid claims. All audited financial statements shall be prepared by and certified as to the correctness by an independent certified public accountant; and

(c) A blank copy of the self-insurance identification card to be utilized by the applicant as provided in paragraph (2) of this Rule.

(a) Provide efficient claims handling procedures substantially equivalent to those afforded by a policy of automobile liability insurance in compliance with O.C.G.A. Chapter 33-34, the "Georgia Motor Vehicle Accident Reparations Act." The applicant shall attach a complete copy of the procedures which the applicant will use in investigating and adjusting claims, including amounts of coverages, benefits, and payment procedures;

(b) Provide the coverages and benefits required under O.C.G.A. Chapter 33-34, the "Georgia Motor Vehicle Reparations Act," and O.C.G.A. Chapter 40-9, the "Motor Vehicle Safety Responsibility Act," except that uninsured motorist coverages as provided in O.C.G.A. Section 33-7-11 and optional personal injury protection coverages as provided in O.C.G.A. Section 33-34-5 shall not be required;

(c) Issue a self-insurance identification card for each vehicle to be carried in each vehicle, showing:

(d) Allow the Commissioner of Insurance or his representative to examine and verify at any time pertinent information contained in the application for self-insurance or any financial statement. Examinations may consist of, but are not limited to, on-site inspection of vehicles, premises, claims files and accounting records. Costs associated with any examination as ordered by the Commissioner shall be borne by the self-insurer.