reglab/statecodes huggingface dataset:
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 120-2-16 - LONG TERM CARE INSURANCE › Rule 120-2-16-.26 - Availability of New Services or Providers

Current through Rules and Regulations filed through June 27, 2024
(1) An insurer shall notify policyholders of
				the availability of a new long-term policy series that provides coverage for
				new long-term care services or providers material in nature and not previously
				available through the insurer to the general public. The notice shall be
				provided within 12 months of the date of the new policy series is made
				available for sale in this state.
(2) Notwithstanding subsection (1) above,
				notification is not required for any policy issued prior to the effective date
				of this section or to any policyholder or certificateholder who is currently
				eligible for benefits, within an elimination period or on a claim, or who
				previously had been in claim status, or who would not be eligible to apply for
				coverage due to issue age limitations under the new policy. The insurer may
				require that policyholders meet all eligibility requirements, including
				underwriting and payment of the required premium to add such new services or
				providers.
(3) The insurer shall
				make the new coverage available in one of the following ways:
(a) By adding a rider to the existing policy
				and charging a separate premium for the new rider based on the insured's
				attained age;
(b) By exchanging the
				existing policy or certificate for one with an issue age based on the present
				age of the insured and recognizing past insured status by granting premium
				credits toward the premiums for the new policy or certificate. The premium
				credits shall be based on premiums paid or reserves held for the prior policy
				or certificate;
(c) By exchanging
				the existing policy or certificate for a new policy or certificate in which
				consideration for past insured status shall be recognized by setting the
				premium for the new policy or certificate at the issue age of the policy or
				certificate being exchanged. The cost for the new policy or certificate may
				recognize the difference in reserves between the new policy or certificate and
				the original policy or certificate; or
(d) By an alternative program developed by
				the insurer that meets the intent of this section if the program is filed with
				and approved by the Commissioner.
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 120-2-16 - LONG TERM CARE INSURANCE › Rule 120-2-16-.27 - Right to Reduce Coverage and Lower Premiums

Current through Rules and Regulations filed through June 27, 2024
(1)
(a)
				Every long-term care insurance policy and certificate shall include a provision
				that allows the policyholder or certificateholder to reduce coverage and lower
				the policy or certificate premium in at least one of the following ways:
(i) Reducing the maximum benefit;
				or
(ii) Reducing the daily, weekly
				or monthly benefit amount.
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 120-2-16 - LONG TERM CARE INSURANCE › Rule 120-2-16-.28 - Nonforfeiture Benefit Requirement

Current through Rules and Regulations filed through June 27, 2024
(1) Except as provided in subsection (2), a
				long-term care insurance policy may not be delivered or issued for delivery in
				this state unless the policyholder or certificateholder has been offered the
				option of purchasing a policy or certificate including a nonforfeiture benefit.
				The offer of a nonforfeiture benefit may be in the form of a rider that is
				attached to the policy. In the event the policyholder or certificateholder
				declines the nonforfeiture benefit, the insurer shall provide a contingent
				benefit upon lapse that shall be available for a specified period of time
				following a substantial increase in premium rates.
(2) When a group long term care insurance
				policy is issued, the offer required in subsection (1) shall be made to the
				group policyholder. However, if the policy is issued as group long-term care
				insurance as defined in O.C.G.A. Section
				33-42-4, other than to a
				continuing care retirement community or similar entity, the offering shall be
				made to each proposed certificateholder.
(3) This section does not apply to life
				insurance policies or riders containing accelerated long-term care
				benefits.
(4) To comply with the
				requirement to offer a nonforfeiture benefit pursuant to the provisions of
				O.C.G.A. Section
				33-42-6 and Rule Section
				120-2-16-.28(1):
(a) A policy or certificate offered with
				nonforfeiture benefits shall have coverage elements, eligibility, benefit
				triggers and benefit length that are the same as coverage to be issued without
				nonforfeiture benefits. The nonforfeiture benefit included in the offer shall
				be the benefit described in subsection (5); and
(b) The offer shall be in writing if the
				nonforfeiture benefit is not otherwise described in the Outline of Coverage or
				other materials given to the prospective policyholder.
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 120-2-16 - LONG TERM CARE INSURANCE › Rule 120-2-16-.29 - Standards for Benefit Triggers

Current through Rules and Regulations filed through June 27, 2024
(1) A long-term care insurance policy shall
				condition the payment of benefits on a determination of the insured's ability
				to perform activities of daily living and on cognitive impairment. Eligibility
				for the payment of benefits shall not be more restrictive than requiring either
				a deficiency in the ability to perform not more than three of the activities of
				daily living or the presence of cognitive impairment.
(2)
(a)
				Activities of daily living shall include at least the following as defined in
				Section 120-2-16-.05
				and in the policy:
(i) Bathing;
(ii) Continence;
(iii) Dressing;
(iv) Eating;
(v) Toileting; and
(vi) Transferring.
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 120-2-16 - LONG TERM CARE INSURANCE › Rule 120-2-16-.30 - Additional Standards for Benefit Triggers for Qualified Long - Term Care Insurance Contracts

Current through Rules and Regulations filed through June 27, 2024
(1) For purposes of this section, the
				following definitions apply:
(a) "Qualified
				long-term care services" means services that meet the requirements of Section
				7702(c)(1) of the Internal Revenue Code of 1986, as amended, as follows:
				necessary diagnostic, preventive, therapeutic, curative, treatment, mitigation
				and rehabilitative services, and maintenance or personal care services which
				are required by a chronically ill individual, and are provided pursuant to a
				plan of care prescribed by a licensed health care practitioner.
(b)
(i)
				"Chronically ill individual" has the meaning prescribed for this term by
				section 7702B(c)(2) of the Internal Revenue Code of 1986, as amended. Under
				this provision, a chronically ill individual means any individual who has been
				certified by a licensed health care practitioner as:
(A) Being unable to perform (without
				substantial assistance from another individual) at least two activities of
				daily living for a period of at least 90 days due to a loss of functional
				capacity; or
(B) Requiring
				substantial supervision to protect the individual from threats to health and
				safety due to severe cognitive impairment.
(ii) The term "chronically ill individual"
				shall not include an individual otherwise meeting these requirements unless
				within the preceding twelve-month period a licensed health care practitioner
				has certified that the individual meets these requirements.
(c) "Licensed health care
				practitioner" means a physician, as defined in Section 1861(r)(1) of the Social
				Security Act, a registered professional nurse, licensed social worker or other
				individual who meets requirements prescribed by the Secretary of the
				Treasury.
(d) "Maintenance or
				personal care services" means any care the primary purpose of which is the
				provision of needed assistance with any of the disabilities as a result of
				which the individual is a chronically ill individual (including the protection
				from threats to health and safety due to severe cognitive
				impairment).
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 120-2-16 - LONG TERM CARE INSURANCE › Rule 120-2-16-.32 - Requirements to Deliver Shopper's Guide

Current through Rules and Regulations filed through June 27, 2024
(1) A long-term care insurance shopper's
				guide in the format developed by the National Association of Insurance
				Commissioners, or a guide developed or approved by the Commissioner, shall be
				provided to all prospective applicants of a long-term care insurance policy or
				certificate.
(a) In the case of agent
				solicitations, an agent must deliver the shopper's guide prior to the
				presentation of an application or enrollment form.
(b) In the case of direct response
				solicitations, the shopper's guide must be presented in conjunction with any
				application or enrollment form.
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 120-2-16 - LONG TERM CARE INSURANCE › Rule 120-2-16-.34 - Georgia Long - Term Care Insurance Partnership Program

Current through Rules and Regulations filed through June 27, 2024
(1) In accordance
				with § 6021 of the Deficit Reduction Act of 2005 (Pub.L. 109-171)
				and O.C.G.A. Section
				49-4-162, in addition to the
				applicable provisions of this Rule Chapter, the provisions of this section
				shall apply to any qualified state long-term care insurance partnership
				policy.
(2) "Qualified state
				long-term care insurance partnership policy'' or "partnership policy'' means an
				insurance policy that meets all the requirements specified in O.C.G.A Sections
				33-42-4 and
				49-4-162 and meets the following
				requirements:
(a) The policy covers an insured
				who was a resident of the State of Georgia (a Partnership State) when coverage
				first became effective under the policy.
(b) The policy is a qualified long-term care
				insurance policy as defined in § 7702B(b) of the Internal Revenue Code of
				1986 and was issued no earlier than January 1, 2007.
(c) The policy meets all the applicable
				requirements of this Rule and the requirements of the National Association of
				Insurance Commissioners long-term care insurance model act and model regulation
				as those requirements are set forth in § 1917(b)(5)(A) of the Social
				Security Act
(42 USC
				§
												1396
				p
(b)(5)(A)
).
(d) The policy provides the following
				inflation protections:
1. If the policy is
				sold to an individual who has not attained age 61 as of the date of purchase,
				the policy shall provide compound annual inflation protection;
2. If the policy is sold to an individual who
				has attained age 61 but has not attained age 76 as of the date of purchase, the
				policy shall provide some level of inflation protection;
3. If the policy is sold to an individual who
				has attained age 76 as of the date of purchase, the policy may provide
				inflation protection, but is not required.
(e) The Commissioner may also approve new and
				innovative inflation protection methods so long as such method is submitted to
				the Commissioner with an explanation and demonstration as to how the
				alternative method provides for benefit levels to increase with benefit
				maximums or reasonable durations which are meaningful to account for reasonably
				anticipated increases in the costs of long-term care services covered by the
				policy. No such method may be used until the Commissioner has approved such
				method.
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-.01 - Statutory Authority

Current through Rules and Regulations filed through June 27, 2024
This Chapter is promulgated by the Commissioner of Insurance
				  pursuant to the authority set forth in O.C.G.A. Chapter 33-2.
O.C.G.A. Sec.
				  33-2-9.
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-.02 - Purpose

Current through Rules and Regulations filed through June 27, 2024
The purpose of this Chapter is to provide for the reporting
				  of certain data by insurers to the Commissioner of Insurance and to require
				  insurers to provide certain contact information to the Commissioner of
				  Insurance.
O.C.G.A. Sec.
				  33-2-9.
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-.03 - Application Form, Initial Certificate of Authority

Current through Rules and Regulations filed through June 27, 2024
Each applicant for an initial certificate of authority shall
				  make application on the Uniform Certificate of Authority for the state of
				  Georgia. Such form, as amended, may be accessed through
www.naic.org/ucaa
.
O.C.G.A. Sec.
				  33-2-9.
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-.04 - Application For Renewal of Certificate of Authority

Current through Rules and Regulations filed through June 27, 2024
Each insurer authorized to transact business in the State of
				  Georgia shall cause its president and secretary to execute an application for
				  the renewal of certificate of authority on such form as prescribed by the
				  Commissioner. Such application shall be submitted to the Office of Commissioner
				  of Insurance on or before March 1 of each year in accordance with instructions
				  provided by the Commissioner.
O.C.G.A. Secs.
				  33-2-9,
				  33-3-21.
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-.05 - Deposit Requirements

Current through Rules and Regulations filed through June 27, 2024
No deposit required under Code Section
				  33-3-9 shall exceed
				  $200,000.00.
O.C.G.A. §§
										33-2-9,
				  33-3-21.
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-.07 - E-Mail Contact Information

Current through Rules and Regulations filed through June 27, 2024
Each insurer authorized to transact business in the state of
				  Georgia shall provide the Commissioner e-mail contact information (hereinafter
				  "Contact Information") so that the Commissioner may contact the insurer and
				  send information to the insurer via e-mail. It shall be the insurer's
				  responsibility to maintain correct Contact Information and to respond timely to
				  information from the Commissioner transmitted to such address. Delivery of any
				  such information, including but not limited to Directives, Bulletins and data
				  requests, to said address shall be considered valid so long as transmission and
				  receipt can be confirmed by the Commissioner.
O.C.G.A. Secs.
				  33-2-9,
				  33-3-21,
				  33-3-21.3,
				  33-8-4 to
				  33-8-6.
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-.08 - Other Insurers Information

Current through Rules and Regulations filed through June 27, 2024
In addition to the Contact Information, each insurer
				  authorized to transact business in the state of Georgia shall notify the
				  Commissioner of changes to "Insurer Information." Insurer Information refers to
				  general company information such as mailing address and telephone number. Such
				  information shall be specifically defined by Directive.
O.C.G.A. Sec.
				  33-2-9.
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-.09 - Insurer 384 Liability Report

Current through Rules and Regulations filed through June 27, 2024
(1) Each insurer licensed in this State to
				write property and casualty insurance business within or without this State
				shall file on or before March 1 of each year a report of its business and
				affairs as of December 31 of the calendar year then next preceding in
				accordance with instructions provided by the Commissioner. Such report shall
				reflect the necessary information about the premiums written on motor vehicle
				bodily injury liability, including medical pay insurance, product liability
				premiums, medical malpractice premiums, architects and engineers malpractice
				premiums, attorneys malpractice premiums, motor vehicle personal injury
				protection premiums, motor vehicle property liability insurance, underinsured
				and uninsured motorist premiums and other liability premiums. Such insurer
				shall supply and insert all information and data necessary to truthfully
				complete each blank space on such report unless it is unequivocally clear that
				such space has no application to such insurer. Such insurer shall supply the
				above-referenced information on Form GID-42, a copy of which can be obtained
				from Commissioner. Form GID-42 shall be subscribed to and attested by the
				respective officers listed on said Form.
(2) In completing Form GID-42, the following
				definitions shall apply:
(a) "Product
				liability insurance" means the product liability portion of any policy for
				which the premiums for product liability are separately stated and indivisible
				premium policies for which at least one half of the premium is for product
				liability coverage.
(b) "Medical
				malpractice insurance" means medical malpractice insurance reported on line 11
				of the Annual Statement.
(c) "Other
				liability" means the commercial portion of the premiums reported on Annual
				Statement line 17 not included in any other lines of this report.
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-.10 - Casualty Insurers Report

Current through Rules and Regulations filed through June 27, 2024
(1) Each insurer licensed to write casualty
				insurance in Georgia shall report on Form GID-44 and Form GID-45 all
				information requested on such forms in accordance with instructions provided by
				the Commissioner. Forms GID-44 and GID-45 may be reformatted to meet processing
				requirements provided that all information is presented in the same
				order.
(2) Two or more insurers
				having a common ownership or operating in this State under common management
				may submit reports as required in paragraph (1) above on a consolidated
				basis.
(3) Insurers may submit
				reports required in paragraph (1) above through authorized rating or
				statistical organizations which may report on a consolidated basis.
(4) Reports required in paragraph (1) above
				shall be filed with the Commissioner no later than April 30 of each
				year.
(5) Whenever the Commissioner
				shall deem necessary, additional reports or additional information may be
				required, provided that insurers will be given a reasonable time to submit such
				additional reports or additional information.
O.C.G.A. Sec.
				  33-2-9.
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-.11 - Penalties

Current through Rules and Regulations filed through June 27, 2024
Any insurer, representative, officer, or employee of such
				  insurer failing to comply with the requirements of this Chapter shall be
				  subject to such penalties as may be appropriate under the insurance laws of
				  this State.
O.C.G.A. Sec.
				  33-2-9.
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-.12 - Severability

Current through Rules and Regulations filed through June 27, 2024
If any provision of this Chapter, or the application thereof
				  to any person or circumstance, is held invalid by a court of competent
				  jurisdiction, the remainder of the Chapter or the applicability of such
				  provision to the persons or circumstances shall not be
				  affected.
O.C.G.A. Sec.
				  33-2-9.
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 120-2-19 - PROPERTY INSURANCE REGULATIONS › Rule 120-2-19-.01 - Standard Fire Policy

Current through Rules and Regulations filed through June 27, 2024
Click
				  here to view
Click
				  here to view
Click
				  here to view
Click
				  here to view
Click
				  here to view
Click
				  here to view
Click
				  here to view
Click
				  here to view
Click
				  here to view
Click
				  here to view
O.C.G.A. Secs.
				  33-2-9,
				  33-32-1,
				  50-13-4,
				  50-13-21.
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 120-2-19 - PROPERTY INSURANCE REGULATIONS › Rule 120-2-19-.02 - Property Insurance Regulations

Current through Rules and Regulations filed through June 27, 2024
Ga. L. 1960, pp. 299,
				  305, 741.
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 120-2-19 - PROPERTY INSURANCE REGULATIONS › Rule 120-2-19-.03 - Severability

Current through Rules and Regulations filed through June 27, 2024
If any rule or portion thereof contained in this Chapter is
				  held invalid by a court of competent jurisdiction, the remainder of the rules
				  herein and the applicability of such provisions to other circumstances shall
				  not be affected thereby.
O.C.G.A. Secs.
				  33-2-9,
				  33-32-1,
				  50-13-4,
				  50-13-21.
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 120-2-20 - UNFAIR TRADE AND CLAIMS SETTLEMENT PRACTICES › Rule 120-2-20-.02 - Time Limitation on Filing Suit

Current through Rules and Regulations filed through June 27, 2024
No property, casualty, credit, marine and transportation, or
				  vehicle insurance policy providing first party insurance coverage for loss or
				  damage to any type of real or personal property shall contain a contractual
				  limitation requiring commencement of a suit or action within a specified period
				  of time less favorable to the insured than that specified in the "Standard Fire
				  Policy" promulgated by the Commissioner in Chapter
				  120-2-19-.01 of these Rules and
				  Regulations. The time limitation on filing suit imposed by this Rule is
				  applicable only to the portion or portions of the policies providing first
				  party property insurance coverage. Liability coverage and workers compensation
				  coverage are specifically exempted from the requirements of this
				  Rule.
O.C.G.A. Secs.
				  33-2-9,
				  33-6-36,
				  33-32-1,
				  33-34-8.
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 120-2-20 - UNFAIR TRADE AND CLAIMS SETTLEMENT PRACTICES › Rule 120-2-20-.03 - Unlawful Agreements between Insurers and Providers

Current through Rules and Regulations filed through June 27, 2024
(1) An agreement
				between an insurer and a provider shall not include a most favored nation
				clause or an upper limit trigger clause.
(2) Definitions:
(a) "Most favored nation clause" means any
				clause or combination of clauses in an agreement between an insurer and a
				provider that:
1. Prohibits, or grants the
				insurer an option to prohibit, a provider from contracting with another party
				to provide health care services at a lower rate than the payment or
				reimbursement rate specified in the contract;
2. Requires, or grants the insurer an option
				to require, a provider to accept a lower payment or reimbursement rate if the
				provider agrees to provide health care services to another party at a lower
				rate than the payment or reimbursement rate specified in the
				contract;
3. Requires, or grants a
				contracting insurer an option to terminate or renegotiate an existing contract
				in the event the provider agrees to provide health care services to any other
				party at a lower rate; or
4.
				Requires a provider to disclose, to the insurer or its designee, the provider's
				contractual payment or reimbursement rates with other parties.
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 120-2-20 - UNFAIR TRADE AND CLAIMS SETTLEMENT PRACTICES › Rule 120-2-20-.04 - Severability

Current through Rules and Regulations filed through June 27, 2024
If any rule or portion thereof contained in this Chapter is
				  held invalid by a court of competent jurisdiction, the remainder of the rules
				  herein and the applicability of such provisions to other circumstances shall
				  not be affected thereby.
O.C.G.A. Secs.
				  33-2-9,
				  33-6-36,
				  33-32-1,
				  33-34-8,
				  50-13-3,
				  50-13-4,
				  50-13-21.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.01 - Authority

Current through Rules and Regulations filed through June 27, 2024
This Chapter is promulgated by the Commissioner of Insurance
				  pursuant to the authority set forth in O.C.G.A. §§
									33-2-9 and
				  33-22-1
et
				  seq.
Ga. L. 1969, p. 561,
				  566; O.C.G.A. Secs.
				  33-2-9,
				  33-22-1,
et
				  seq.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.02 - Application for Original and Renewal License

Current through Rules and Regulations filed through June 27, 2024
(1) Each application for an original license
				as an Insurance Premium Finance Company shall be made on Form GID-21, entitled
				"Application for License as an Insurance Premium Finance Company." Fees shall
				be remitted in accordance with O.C.G.A. §
									33-8-1.
(2) Each application for a renewal as an
				Insurance Premium Finance Company shall be made prior to March 1 of each year
				on Form GID-22, entitled "Application for Renewal License as an Insurance
				Premium Finance Company." Fees shall be remitted in accordance with O.C.G.A.
				§
									33-8-1.
O.C.G.A. Secs.
				  33-2-9,
				  33-8-1,
				  33-22-1,
et
				  seq.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.03 - Licenses and Application Procedures

Current through Rules and Regulations filed through June 27, 2024
(1) Each application for an original license
				as an Insurance Premium Finance company shall be accompanied by a Form GID-23,
				entitled "Biographical Questionnaire and Affidavit." A separate form shall be
				completed and executed:
(a) in the case of a
				sole proprietor, by the sole proprietor;
(b) in the case of a partnership, by each
				partner; or
(c) in the case of a
				corporation, by each officer, director, and owner of more than 10% of the
				outstanding shares of stock.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.04 - Termination and Transfer of Licenses

Current through Rules and Regulations filed through June 27, 2024
(1) Death of a proprietor shall terminate the
				license; provided, however, that if notice of such death is furnished to the
				Commissioner and the Commissioner is satisfied, by examination or otherwise,
				that the interests of insureds and insurers have been adequately protected, he
				may issue a temporary license:
(a) To the
				executor or administrator of the estate of a deceased proprietor;
(b) To a surviving next of kin of such
				deceased proprietor if no administrator or executor has been appointed or
				qualified, but any such license issued shall be revoked upon issuance of a
				license to an administrator or executor under subsection (1)(a) of this
				section.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.05 - Separation and Preservation of Records

Current through Rules and Regulations filed through June 27, 2024
(1) If the licensee engages in any other
				business, the records relating to the insurance premium finance business shall
				be kept separate from the records of any other business.
(2) Every licensee shall preserve every
				premium finance contract and all documents relating thereto (and copies of all
				documents delivered to an insured) for at least three years after making the
				final entry in respect to any premium finance agreement.
(3) The Commissioner may, at any time,
				require any licensee to bring such records as he may direct to the
				Commissioner's Office for examination, or the Commissioner or his duly
				authorized representative may conduct an examination of such records on the
				premises of the licensee.
O.C.G.A. Secs.
				  33-2-9,
				  33-22-1
et
				  seq.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.06 - Notice to the Insurer

Current through Rules and Regulations filed through June 27, 2024
Any licensee which enters into a premium finance agreement
				  shall notify the insurer of the existence of such agreement within twenty (20)
				  days of the date such agreement is signed.
O.C.G.A. Secs.
				  33-2-9,
				  33-22-1
et
				  seq.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.07 - Description of Insurance Contracts Where Policy Information Is Not Immediately Known

Current through Rules and Regulations filed through June 27, 2024
(1) In case of an application to the Georgia
				Automobile Insurance Plan where the policy information is not immediately
				available, the Premium Finance Contract shall show "Georgia Automobile
				Insurance Plan" and all descriptive information pertaining to the policy which
				is known.
(2) In other instances
				where complete policy information is not immediately available, the Premium
				Finance Contract shall show all descriptive information pertaining to the
				policy which is known.
Ga. L. 1969, p. 561,
				  566; O.C.G.A. Secs.
				  33-2-9,
				  33-22-1
et
				  seq.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.08 - Penalties

Current through Rules and Regulations filed through June 27, 2024
Any person failing to comply with the requirements of this
				  Regulation Chapter shall be subject to such penalties as may be appropriate
				  under the insurance laws of this State.
Ga. L. 1969, p. 561,
				  566; O.C.G.A. Secs.
				  33-2-9.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.09 - Severability

Current through Rules and Regulations filed through June 27, 2024
If any provision of this Regulation Chapter, or the
				  application thereof to any person or circumstance, is held invalid by a court
				  of competent jurisdiction, the remainder of the Regulation Chapter or the
				  applicability of such provision to other persons or circumstances shall not be
				  affected.
O.C.G.A. Sec.
				  33-2-9.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.10 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Sec.
				  33-2-9.
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 120-2-21 - INSURANCE PREMIUM FINANCE COMPANIES › Rule 120-2-21-.11 - Repealed

Current through Rules and Regulations filed through June 27, 2024
Ga. L. 1969, p. 561,
				  566.
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 120-2-22 - GEORGIA VARIABLE ANNUITY CONTRACT REGULATION › Rule 120-2-22-.01 - Definitions and Scope

Current through Rules and Regulations filed through June 27, 2024
(1) The term "variable annuity contract"
				shall mean any individual or group contract issued by an insurance company
				providing for annuity benefits and incidental contractual payments or values
				which vary in whole or in part so as to reflect investment results of any
				segregated portfolio of investments or of a designated separate account or
				accounts in which amounts received or retained in connection with any of such
				contracts have been placed.
(2)
				"Agent," when used in this Regulation, shall mean any person, who, under the
				laws of this State, is licensed as a life insurance agent.
(3) "Variable annuity agent," when used in
				this Regulation, shall mean an agent who shall sell or offer to sell any
				variable annuity contract.
(4) A
				"satisfactory alternative examination" to Part I of the written examination
				called for by paragraph (3) of Section
				120-2-22-.07 shall include any
				securities examination which is declared by the Commissioner to be an
				equivalent examination on the basis of content and administration. The
				following examinations are deemed to be a satisfactory alternative examination:
(a) any State Securities Examination accepted
				by the Securities and Exchange Commission;
(b) the National Association of Securities
				Dealers, Inc. Examination for Principals, or Examination for Qualification as a
				Registered Representative;
(c) the
				various securities examinations required by the New York Stock exchange, the
				American Stock Exchange, Pacific Stock exchange, or any other registered
				national securities exchange;
(d)
				the Securities and Exchange Commission test given pursuant to Section 15(b)(8)
				of the Securities Exchange Act of 1934;
(e) the examination recommended for the
				testing of variable annuity agents by the National Association of Insurance
				Commissioners, when adopted by the Insurance Department of any State or
				Territory of the United States and approved for use by such Department by the
				Securities and Exchange Commission.
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 120-2-22 - GEORGIA VARIABLE ANNUITY CONTRACT REGULATION › Rule 120-2-22-.02 - Qualifications of Insurance Companies to Issue Variable Annuity Contracts

Current through Rules and Regulations filed through June 27, 2024
(1) No company
				shall deliver or issue for delivery variable annuity contracts within this
				State unless (a) it is licensed or organized to do a life insurance or annuity
				business in this State; and (b) the Commissioner is satisfied that its
				condition or method of operation in connection with the issuance of such
				contracts will not render its operation hazardous to the public or its
				policyholders in this State. In this connection, the Commissioner shall
				consider among other things:
(i) the history
				and financial condition of the company;
(ii) the character, responsibility and
				fitness of the officers and directors of the company; and
(iii) the law and regulation under which the
				company is authorized in the state of domicile to issue variable
				contracts.
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 120-2-22 - GEORGIA VARIABLE ANNUITY CONTRACT REGULATION › Rule 120-2-22-.04 - Filing of Contracts

Current through Rules and Regulations filed through June 27, 2024
All provisions pertinent to the Insurance Laws of this State,
				  applicable to the filing requirements of all insurance policies and annuity
				  contracts, shall apply to variable annuity contracts.
O.C.G.A. Secs.
				  33-2-9,
				  33-11-35.
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 120-2-22 - GEORGIA VARIABLE ANNUITY CONTRACT REGULATION › Rule 120-2-22-.05 - Contracts Providing for Variable Benefits

Current through Rules and Regulations filed through June 27, 2024
(1) Any variable annuity contract providing
				benefits payable in variable amounts delivered or issued for delivery in this
				State shall contain a statement of the essential features of the procedures to
				be followed by the insurance company in determining the dollar amount of such
				variable benefits. Any such contract, including a group contract and any
				certificate in evidence of variable benefits issued thereunder, shall state
				that such dollar amount will vary to reflect investment experience and shall
				contain on its first page a clear statement to the effect that the benefits
				thereunder are on a variable basis.
(2) Illustrations of benefits payable under
				any variable annuity contract providing benefits payable in variable amounts
				shall not include projections of past investment experience into the future or
				attempted predictions of future investment experience; provided that nothing
				contained herein is intended to prohibit use of hypothetical assumed rates of
				return to illustrate possible levels of annuity payments.
(3) No individual variable annuity contract
				calling for the payment of periodic stipulated payments shall be delivered or
				issued for delivery in this State unless it contains in substance the following
				provisions or provisions which in the opinion of the Commissioner are more
				favorable to the holders of such contracts:
(a) a provision that there shall be a period
				of grace of 30 days or of one month, within which any stipulated payment to the
				insurer falling due after the first may be made, during which period of grace
				the contract shall continue in force. The contract may include a statement of
				the basis for determining the date as of which any such payment received during
				the period of grace shall be applied to produce the values under the contract
				arising therefrom;
(b) a provision
				that, at any time within one year from the date of default, in making periodic
				stipulated payments to the insurer during the life of the annuitant and unless
				the cash surrender value has been paid, the contract may be reinstated upon
				payment to the insurer of such overdue payments as required by the contract,
				and of all indebtedness to the insurer on the contract, including interest. The
				contract may include a statement of the basis for determining the date as of
				which the amount to cover such overdue payments and indebtedness shall be
				applied to produce the values under the contract arising therefrom.
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 120-2-22 - GEORGIA VARIABLE ANNUITY CONTRACT REGULATION › Rule 120-2-22-.06 - Required Reports

Current through Rules and Regulations filed through June 27, 2024
(1) Any company issuing individual variable
				annuity contracts providing benefits in variable amounts shall mail to each
				contract holder at least once in each contract year after the first contract
				year at his last address known to the company, a statement or statements
				reporting the investments held in the separate account and, in the case of
				variable annuity contracts under which payments have not yet commenced, a
				statement reporting as of a date not more than four months previous to the date
				of mailing, (a) the number of accumulation units credited to such contracts and
				the dollar value of a unit, or (b) the value of each contract holder's
				account.
(2) The company shall
				submit annually to the Insurance Commissioner a statement of the business of
				its separate account or accounts in such form as may be prescribed by the
				Commissioner.
O.C.G.A. Secs.
				  33-2-9,
				  33-11-35.
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 120-2-23 - INSURANCE HOLDING COMPANY REGULATIONS › Rule 120-2-23-.01 - Authority

Current through Rules and Regulations filed through June 27, 2024
This regulation is promulgated pursuant to the authority
				  granted by O.C.G.A. Section
				  33-2-9 and O.C.G.A. Section
				  33-13-8.
O.C.G.A. Secs.
				  33-2-9,
				  33-13-8.
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 120-2-23 - INSURANCE HOLDING COMPANY REGULATIONS › Rule 120-2-23-.02 - Purpose

Current through Rules and Regulations filed through June 27, 2024
The purpose of this Regulation is to set forth rules and
				  procedural requirements which the Commissioner deems necessary to carry out the
				  provisions of Chapter 13 of Title 33, relating to insurance holding company
				  systems hereinafter referred to as the "Act". The information called for by
				  this Regulation is hereby declared to be necessary and appropriate in the
				  public interest and for the protection of the policyholders in this
				  State.
O.C.G.A. Secs.
				  33-2-9,
				  33-13-8.