Submission of Reports by Property and Casualty Insurers; Types of Insurance to Which Requirement Applies; Contents of Report; Public Inspection

1. Law
2. Georgia Code
3. Insurance
4. Authorization and General Requirements for Transaction of Insurance
5. Submission of Reports by Property and Casualty Insurers; Types of Insurance to Which Requirement Applies; Contents of Report; Public Inspection

1. By rule or regulation, the Commissioner may require each insurer licensed to write property and casualty insurance by the Commissioner to submit a report on a form furnished by the Commissioner showing its direct writings in this state.
2. The report permitted by subsection (a) of this Code section may include but not be limited to the following types of insurance written by such insurer:
   1. Motor vehicle bodily injury liability insurance, including medical pay insurance;
   2. Products liability insurance;
   3. Medical malpractice insurance;
   4. Architect and engineer malpractice insurance;
   5. Attorney malpractice insurance;
   6. Motor vehicle personal injury protection insurance;
   7. Motor vehicle property liability insurance;
   8. Uninsured motorist insurance;
   9. Underinsured motorist insurance; and
   10. Commercial casualty or property insurance as defined in paragraph (1) of Code Section 33-7-3 or Code Section 33-7-6.
3. Additionally, the report shall include the following information:
   1. Direct premiums written;
   2. Direct premiums earned;
   3. Net investment income, including net realized capital gains and losses, using appropriate estimates where necessary;
   4. Incurred claims, developed as a sum of, and with figures provided for, the following:
      1. Dollar amount of claims closed with payment; plus
      2. Reserves for reported claims at the end of the current year; minus
      3. Reserves for reported claims at the end of the previous year; plus
      4. Reserves for incurred but not reported claims at the end of the current year; minus
      5. Reserves for incurred but not reported claims at the end of the previous year; plus
      6. Reserves for loss adjustment expense at the end of the current year; minus
      7. Reserves for loss adjustment expense at the end of the previous year;
   5. Actual incurred expenses allocated separately to loss adjustment, commissions, other acquisition costs, general office expenses, taxes, licenses, fees, and all other expenses;
   6. Net underwriting gain or loss; and
   7. Net operation gain or loss, including net investment income.
4. Any reports provided under this Code section shall be made available to the public for inspection.

(Code 1981, §33-3-21.1, enacted by Ga. L. 1986, p. 896, § 1; Ga. L. 1987, p. 3, § 33; Ga. L. 2014, p. 128, § 1/HB 229.)

Download our app to see the most-to-date content.