6.6.9003    WAIVER REVOCATION

(1)  The commissioner may revoke a waiver if the insurer who obtains the waiver fails to comply with any terms, conditions, or limitations established by the commissioner, the requirements of 33-2-2501, MCA, or if the waiver is causing harm to a consumer or causes material harm to the insurer's solvency. 

(2)  The commissioner shall give the insurer written notice of intent to revoke the waiver, and the insurer shall have ten days to respond to the notice.

(3)  Following the insurer's response, if the commissioner is not satisfied that the condition warranting revocation is cured, the commissioner shall send final written notice revoking the waiver.

(4)  If the reasons described in (1) of this rule pose a threat of harm in the absence of immediate action, the commissioner may immediately revoke the waiver pending the insurer's response.

 

History: 33-2-2501, MCA; IMP, 33-2-2501, MCA; NEW, 2023 MAR p. 1398, Eff. 10/21/23.