Submission to Commissioner of Underwriting Rules and Rates, Premiums, or Fees; Approval or Disapproval

  1. Law
  2. Georgia Code
  3. Insurance
  4. Prepaid Legal Services Plans
  5. Submission to Commissioner of Underwriting Rules and Rates, Premiums, or Fees; Approval or Disapproval

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  1. No sponsor of any prepaid legal services plan or authorized representative of the plan shall enter into any contract with subscribers unless and until the sponsor has filed with the Commissioner a copy of its underwriting rules and a full schedule of the rates, premiums, or membership fees to be charged to the subscribers. These filings shall be deemed to be approved by the Commissioner 90 days after the date of filing with the Commissioner, unless prior to the expiration of the 90 day period the Commissioner notifies the sponsor of the prepaid legal services plan in writing of the Commissioner's disapproval.
  2. In considering whether or not to approve a given rate schedule, the Commissioner shall consider the following factors:
    1. Whether the rates are adequate to ensure that all the benefits contracted for will be supplied;
    2. Whether the rates are excessive;
    3. Whether the rates are unfairly discriminatory; and
    4. Whether the rates are otherwise contrary to the laws or public policies of this state.
  3. Insurers authorized to transact casualty, life, or accident and sickness insurance in this state shall be required to comply with the requirements of this Code section if they sell or offer for sale policies of prepaid legal services insurance in this state or if they underwrite prepaid legal services plans of sponsors licensed to operate prepaid legal services plans in this state; provided, however, that nothing contained in this Code section shall be deemed to relieve any insurer authorized to transact casualty, life, or accident and sickness insurance in this state from complying with the requirements of this title and the laws of this state.

(Code 1933, § 56-3509, enacted by Ga. L. 1975, p. 1268, § 1; Ga. L. 1983, p. 748, § 5; Ga. L. 1990, p. 8, § 33; Ga. L. 1992, p. 6, § 33; Ga. L. 2019, p. 386, § 122/SB 133.)

The 2019 amendment, effective July 1, 2019, in subsection (c), deleted "or any corporation organized pursuant to Chapter 18 or 19 of this title" following "in this state" near the beginning and near the end.


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