Compilation of Rules and Regulations of the State of Georgia › Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER › Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE › Subject 120-2-18 - BUSINESS REQUIREMENTS › Rule 120-2-18-.06 - Insurers Financial Reports

Current through Rules and Regulations filed through June 27, 2024
(1) Each insurer licensed to transact
				insurance in this State shall file on or before March 1 of each year a
				financial report of its business and affairs as of December 31 of the calendar
				year then next preceding. Such report shall be filed on the appropriate Blanks
				as follows: Fire and Casualty Blank; Fraternal Orders Blank; Life and Accident
				and Health Blank; Health Blank; Hospital, Medical and Dental Service or
				Indemnity Corporations Blank; Title Insurance Blank; Separate Accounts Blank;
				and Variable Life Separate Accounts Blank. The financial reports required by
				this Rule shall be prepared in accordance with the National Association of
				Insurance Commissioners (NAIC) Annual Statement Instructions and the NAIC
				Accounting Practices and Procedures Manual which are incorporated herein by
				reference. Additionally, all materials required to be filed with the Department
				must also be submitted to the NAIC pursuant to O.C.G.A. §
									33-3-21.3 in such format as
				prescribed by the NAIC. Such insurer shall compile and report all information
				or data necessary to truthfully and fully complete the appropriate Blank listed
				above, including all interrogatories, which are applicable to that particular
				insurer, which best reflect the types or kinds of insurance that insurer
				transacts unless it is unequivocally clear that such data or information does
				not apply to such insurer. Additionally, each insurer shall supply, insert or
				attach to its annual report all data, information and answers required or
				suggested by any note, footnote or lack of space in the Blank. After supplying
				all answers, information or data necessary or proper to complete such Blank in
				every detail, such insurer shall cause its officers specified in such Blank to
				subscribe to the oath appearing on page one of such Blank.
(2) Each insurer licensed to transact
				insurance in this State shall file quarterly financial reports on the
				applicable NAIC Blank. Such reports of its business and affairs shall be as of
				March 31, June 30 and September 30 and shall be due May 15, August 15 and
				November 15 respectively.
(3)
				Privately printed or commercially printed Blanks may be submitted to the Office
				of Commissioner of Insurance to satisfy the requirements of this Rule as long
				as the Blank submitted complies in all respects with the appropriate Blank or
				Blanks that insurer must file.
(4)
				The Commissioner may by Order obtain monthly financial reports from an insurer.
				Such financial information shall be truthfully and completely reported in such
				form as may be requested by the Commissioner for the proper supervision and
				monitoring of the financial condition of an insurer.
(5) In addition to the reports otherwise
				required by this Regulation Chapter, each insurer licensed to transact business
				in this State must electronically file its annual report and such other reports
				as prescribed by the Commissioner with the NAIC. Such electronic filings must
				conform to the format and instructions promulgated by the NAIC.
O.C.G.A. Secs.
				  33-2-9,
				  33-3-21.1.