Rule 515-16-11-.04 - Cargo Insurance(1) Except as otherwise provided by law no motor carrier transporting household goods by motor vehicle required to hold a certificate from the Commission shall engage in intrastate commerce, nor shall any certificate be issued to such carrier, nor remain in force unless and until there shall have been filed with and approved by the Commission a surety bond, policy of insurance (or certificate of insurance in the form prescribed herein in lieu thereof), or other securities or agreements in not less than the amounts hereinafter prescribed, conditioned upon such carrier making compensation to shippers or consignees for all property belonging to shippers or consignees and coming into the possession of such carrier in connection with its transportation service within the boundaries of the State of Georgia, regardless of whether such motor vehicle is described in the policy or not.(2) Within the limits of liability hereinafter provided it is further required that no condition, provisions, stipulation, or limitation contained in the policy, or any other endorsement thereon or violation thereof, or of this rule by the insured, shall affect in any way the right of any shipper or consignee, or relieve the insurance or bonding company from liability for the payment of any claim for which the insured may be held legally liable to compensate shippers or consignees, irrespective of the financial responsibility or lack thereof or insolvency or bankruptcy of the insured. However, all terms, conditions, and limitations in the policy are to remain in full force and effect as binding between the insured and the insurance or bonding company.(3) The liability of the insurance or bonding company for the following minimum limits shall be a continuing one notwithstanding any recovery hereunder: (a) For loss of or damage to property carried on any one motor vehicle....... $25,000.00(b) For loss of or damage to aggregate of losses or damage of or to property occurring at any one time and place........ $50,000.00Ga. Comp. R. & Regs. R. 515-16-11-.04
Authority O.C.G.A. Secs. 46-7-4, 46-7-12, 46-7-12.1, 46-7-16, 46-7-85.3, 46-7-85.7.
Original Rule entitled "Cargo Insurance" adopted. F. June 10, 2008; eff. June 30, 2008.