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 120-3 - RULES OF SAFETY FIRE COMMISSIONER
Subject 120-3-25 - RULES AND REGULATIONS FOR ESCALATORS AND ELEVATORS
Rule 120-3-25-.23 - Insurance Requirements

(1) Class I, Class IR and Class II Elevator Contractors shall submit to the Office an original or certified copy of an insurance policy issued by an insurance company authorized to do business in this State to provide general liability coverage of at least one million dollars ($1,000,000.00) for injury or death of one person and one million dollars ($1,000,000.00) for injury or death of any number of persons in any one (1) occurrence, with the coverage of at least five hundred thousand dollars ($500,000.00) for property damage in any one (1) occurrence and the statutory workers compensation insurance coverage.

(2) Class III and IIIR Elevator Contractors shall submit to the Office an original or certified copy of an insurance policy issued by an insurance company authorized to do business in this State to provide general liability coverage of at least five hundred thousand dollars ($500,000.00) for injury or death of one (1) person and at least five hundred thousand dollars ($500,000.00) for injury or death of any number of persons in any one (1) occurrence, with the coverage of at least two hundred fifty thousand dollars ($250,000.00) for property damage in any one (1) occurrence and the statutory workers compensation insurance coverage.

(3) Private Elevator Inspectors shall submit to the Office an original or certified copy of an insurance policy issued by an insurance company authorized to do business in this State to provide Professional Errors and Omissions Insurance coverage of at least one million dollars ($1,000,000.00) for injury or death of one person and one million dollars ($1,000,000.00) for injury or death of any number of persons in any one (1) occurrence, with the coverage of at least five hundred thousand dollars ($500,000.00) for property damage in any one (1) occurrence and the statutory workers compensation insurance coverage.

(4) Such policies must be issued by an insurance company authorized to do business in the State of Georgia by the Insurance Commissioner with a Best Policyholders rating of "A-" or better and with a financial size rating of Class V or larger.