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 120-2-49 - ADMINISTRATOR REGULATION
Rule 120-2-49-.16 - Examination by Commissioner; On-Site Examinations
Current through Rules and Regulations filed through March 20, 2024
(1) An administrator shall, at the request of the Commissioner, respond in writing within fifteen (15) working days to any complaint received by the Commissioner concerning the administrator. Complaints shall include those pertaining to improper adjudication of claims and any complaints or concerns, by any other state agency, relating to the administrator. If, in the Commissioner's discretion, the frequency or severity of such complaints or infractions justifies an examination of the administrator's practices and procedures, any such examination by the Commissioner, or any person designated by him or her, shall be at the expense of the administrator. The Commissioner may, in addition to any other remedy available, suspend, revoke or refuse to renew a license in the event that the administrator does not fully cooperate with the Commissioner's office relating to this rule.
(2) The Commissioner or his or her designated representative is authorized to make a complete on-site examination of the affairs of each administrator as often as is deemed necessary. Whenever the Commissioner shall deem it expedient, he or she shall examine by use of an examiner duly authorized by him or her the affairs, transactions, accounts, records, documents, assets, liabilities, of an administrator and any other facts relative to its business methods, management, and dealings with policyholders, certificate holders, and members.
(3) Any administrator being examined shall provide to the Commissioner or his or her designee convenient and free access, at all reasonable hours at their offices, to all books, records, documents and other papers relating to such administrator's business affairs.
(4) At the direction of the Commissioner the administrator shall pay the fees and expenses of the examination. A consolidated account for the examination shall be filed by the examiner with the Commissioner.
(5) Nothing in this rule shall limit or abridge any other investigatory powers of the Commissioner vested in him or her by Title 33 of the Official Code of Georgia Annotated.
O.C.G.A. Secs. 33-2-9, 33-23-100et seq., 33-23-103, 33-23-105.
