Kinds of Insurance in Which Insurers May Transact

  1. Law
  2. Georgia Code
  3. Insurance
  4. Authorization and General Requirements for Transaction of Insurance
  5. Kinds of Insurance in Which Insurers May Transact

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An insurer which otherwise qualifies to transact insurance in Georgia may be authorized to transact any one kind or combination of kinds of insurance as defined in Chapter 7 of this title except:

  1. A reciprocal insurer shall not transact life insurance;
  2. A Lloyd's insurer shall not transact life insurance; and
  3. A title insurer shall be a stock insurer and shall be authorized to transact only title insurance and closing protection letters, pursuant to Code Section 33-7-8.1.

(Code 1933, § 56-304, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1982, p. 3, § 33; Ga. L. 2012, p. 1077, § 1/SB 331; Ga. L. 2019, p. 337, § 1-15/SB 132.)

The 2019 amendment, effective July 1, 2019, deleted ", except that, if immediately prior to January 1, 1961, any title insurer lawfully held a subsisting certificate of authority granting it the right to transact in Georgia additional classes of insurance other than title insurance, so long as the insurer is otherwise in compliance with this title, the Commissioner shall continue to authorize such insurer to transact the same classes of insurance as those specified in such prior certificate of authority" following "Code Section 33-7-8.1" at the end of paragraph (3).

OPINIONS OF THE ATTORNEY GENERAL

Paragraph (3) refers only to insurers licensed to transact title insurance in state.

- The language used in this section with reference to title insurers was intended to mean only those insurers which had complied with the applicable provisions of the insurance laws, including the procuring of a license to transact title insurance in this state. 1963-65 Op. Att'y Gen. p. 334.

Foreign title insurer may be licensed to transact other classes.

- An insurer which has charter power to write title insurance, along with one or more other classes of insurance, may be licensed in Georgia to write such other class or classes of insurance so long as it is not licensed to write title insurance in Georgia. 1963-65 Op. Att'y Gen. p. 334.

Company does not lose right if authorized to write title insurance elsewhere.

- A company licensed in Georgia to write fire insurance or some other class of insurance would not lose that right upon being authorized by the state of its domicile to write title insurance. 1963-65 Op. Att'y Gen. p. 334.

Mobile homes as real property.

- Mobile homes deemed by parties to sales transaction to be a part of real property upon which they are located may be the subjects of title insurance. 1982 Op. Att'y Gen. No. 82-52.

RESEARCH REFERENCES

ALR.

- Power of mutual benefit society to waive restrictions upon eligibility to membership, 28 A.L.R. 93.


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