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 120-2-15 - REPORTING OF POLICY CANCELLATIONS AND NONRENEWALS › Rule 120-2-15-.04 - Quarterly Reporting of Residential Property. Cancellations and Nonrenewals

Current through Rules and Regulations filed through June 27, 2024
On or before the first day of February, May, August, and
				  November, unless notified by the Commissioner to cease prior thereto, and
				  continuing until notified by the Commissioner to cease, all insurance companies
				  transacting business in the State of Georgia and issuing policies of insurance
				  on residential property shall file with the Office of Commissioner of
				  Insurance, Property and Casualty Division, the following information, as a
				  minimum, on Form GID-RP-1:
(a) The
				total number of residential real property insurance policies which have been
				cancelled or nonrenewed by the insurer during the preceding calendar
				quarter.
(b) The information
				required in subsection (a) shall be submitted by completing Form GID-RP-1
				attached hereto and incorporated as a part of this Rule. In addition, the
				Commissioner or his or her designee may require that the same information be
				submitted on IBM-formatted diskette, Double Density (DD) or High Density (HD)
				capacity. Every policy which has been cancelled or nonrenewed shall be listed
				indicating the city street address, ZIP code, county, and the policy number. In
				addition, the submission should indicate the reasons for the cancellation or
				nonrenewal. This Rule does not apply to those policies cancelled or nonrenewed
				by the insurer for nonpayment of premium or to those policies cancelled and
				reissued by the same insurer when there is no gap in insurance coverage on the
				property which is insured.
(c) The
				insurer shall provide notice to the insured of cancellation or nonrenewal of
				policies of insurance against direct loss to residential real property and the
				contents thereof, as required by O.C.G.A. §§
									33-24-44 and
				33-24-46. Such notice of
				cancellation or nonrenewal from the insurer shall be accompanied by the
				specific reason or reasons for such cancellation or nonrenewal, which reason or
				reasons shall be in language sufficiently clear and specific so that a person
				of average intelligence can identify the basis for the insurer's decision
				without further inquiry. Such notice must be accompanied by a tender of any
				unearned premium paid by the insured calculated on a pro rata basis, but if not
				accompanied by such notice, such tender shall be made on or before the
				cancellation date or no later than thirty (30) days after such notice is
				delivered in person or mailed, whichever is later, unless an audit or rate
				investigation is required, in which case such tender shall be made as soon as
				practicable.
(d) The notice
				required under subsection (c) above shall be delivered in person or by
				depositing such notice in the United States mail to be dispatched by at least
				first class mail to the last address of record of the insured and receiving
				therefore the receipt provided by the United States Postal Service or such
				other evidence of mailing as prescribed or accepted by the United States Postal
				Service.
(e) When a policy is
				cancelled, other than for nonpayment of premium, or in the event of a failure
				to renew or continue a policy, the insurer shall notify the named insured of
				his or her possible eligibility for insurance through the Georgia Fair Access
				to Insurance Requirements Plan. Such notice shall accompany or be included in
				the notice of cancellation or the notice of intent not to renew, or not to
				continue the policy, and is given pursuant to this section. Included in such
				notice shall be the address by which the Georgia Fair Access to Insurance
				Requirements Plan might be contacted in order to determine
				eligibility.
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Ga. L. 1960, pp. 289,
				  305; Ga. L. 1975, p. 22, O.C.G.A. Secs.
				  33-2-9,
				  33-6-6,
				  33-24-44,
				  33-24-46,
				  33-39-1,
				  33-39-15.