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 120-2-47 - RULES AND REGULATIONS FOR VEHICLE AND AUTOMOBILE CLUB SERVICE CONTRACTS
Rule 120-2-47-.07 - Disclosure to Service Contract Holder

Universal Citation: GA Rules and Regs r 120-2-47-.07

Current through Rules and Regulations filed through September 23, 2024

(1) A service contract shall not be issued, sold or offered for sale in this State unless the contract conspicuously states that the obligations of the provider to the service contract holder are guaranteed under a service contract reimbursement policy, and unless the contract conspicuously states the name and address of the insurer of the reimbursement policy.

(2) Every service contract shall be written in clear, understandable language and shall be printed or typed in easy-to-read type, size, and style, and shall not be issued, sold, or offered for sale in this State unless the contract:

(a) Conspicuously states that the obligations of the provider to the service contract holder are guaranteed under a service contract reimbursement policy;

(b) Conspicuously states the name and address of the issuer of the reimbursement policy;

(d) Conspicuously states the name, address and telephone number of the administrator, if any;

(e) Identifies the provider, the seller and the service contract holder;

(f) Sets forth the total purchase price, if any, and the terms under which it is to be paid;

(g) Sets forth the procedure for making a claim, or request for benefits including a telephone number;

(h) Conspicuously states the existence of a deductible amount, if any;

(i) Specifies the merchandise or services, or both, to be provided and the limitations, exceptions or exclusions;

(j) Sets forth the conditions on which substitution will be allowed;

(k) Conspicuously sets forth all of the obligations and duties of the service contract holder (such as the duty to protect against any further damage to the vehicle, the obligation to notify the provider in advance of any repair, etc.), if any;

(l) Sets forth any terms, restrictions, or conditions governing transferability of the service contract, if any;

(m) Conspicuously sets forth the term or duration of the contract; and

(n) Contains the provisions required under O.C.G.A. § 33-7-6.

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

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