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 120-2-77 - LARGE COMMERCIAL INSURANCE RISK RATING
Rule 120-2-77-.03 - Definitions
Universal Citation: GA Rules and Regs r 120-2-77-.03
Current through Rules and Regulations filed through September 23, 2024
For purposes of this Regulation Chapter:
(1) "Commissioner" shall mean the Commissioner of Insurance of the State of Georgia.
(2) "Large Commercial Risk" shall mean a single legal entity (or a combination of legal entities controlled by the same person or group of persons by majority interest in such entities) that meets all of the following criteria:
(a) 25 or more full-time employees at the time of application;
(b) assets in excess of $1,500,000 at the time of application;
(c) annual revenues in excess of $2,500,000; and
(d)
(i) annual property and casualty premium threshold from Georgia operations in excess of $50,000; or
(ii) an annual written property and casualty premium threshold for risks having multistate locations or operations in excess of $250,000.
O.C.G.A. Secs. 33-2-9, 33-9-3, 33-9-4.
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