140 IAC 1-7-8 Cancellation or refusal to renew certificate

Sec. 8. (a) The commissioner is authorized to cancel or disapprove a renewal of a certificate of self-insurance if he or she finds that: (1) the self-insurer has inadequate collateral or has judgments from motor vehicle claims that exceed the amount of the collateral furnished; (2) the self-insurer has filed bankruptcy; (3) the self-insurer has an excessive number of claims for personal injury or property damage filed against the self-insurer from the operation or ownership of a motor vehicle; (4) the self-insurer has failed to pay any judgment within thirty (30) days; or (5) the self-insurer has had his or her driver's license or vehicle registration suspended or revoked in accordance with any provision of IC 9. (b) The commissioner shall give at least fifteen (15) days notice and an opportunity for a hearing prior to taking final action on any denial or cancellation of a self-insurance certificate except where the self-insurer fails to maintain the collateral required by this rule.