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Apr. 8--Money problems have driven the Alabama-based insurer that covered most of Columbus' cab companies out of Georgia.
Montgomery-based Co Op Transportation Companies Inc. was fined $14,850 and ordered by the Georgia Insurance Commissioner's office to stop operating in Georgia because it did not have enough money to cover insurance claims.
The commission also rejected the company's application to act as a self insurer in Georgia. Self insurers, attractive because of their low premium rates, set aside funds to meet losses instead of using traditional insurance.
"We became concerned that the company's financial condition could not meet the standards (to …