Legal Tip of the Day-First-party Property Damage Claims (Georgia Automobile Insurance Law-Frank E. Jenkins III and Wallace Miller III) Pursuant to O.C.G.A. section 33-34-8, the legislature delegated authority to the insurance commissioner to promulgate rules or regulations establishing procedures for the expeditious and efficient settlement of first-party property damage claims under personal private passenger motor vehicle policies. According to this statutory provision, such procedures may include, but are not limited to, the following: (1) Loss of use reimbursement; (2) Cost of repair; (3) Determination of fair value on total losses; (4) Use of aftermarket parts; (5) Time limitations for payments of claims for property damage by insureds; and (6) Establishment of a panel for arbitration of disputed property damage claims where such claims involve total losses.
Posted on: Fri, 06 Sep 2013 14:25:23 +0000
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