Insurers to Report Acquisitions and Dispositions of Assets and Material Changes to Ceded Reinsurance Agreements to Commissioner

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  2. Georgia Code
  3. Insurance
  4. Reporting of Transactions by Insurers
  5. Insurers to Report Acquisitions and Dispositions of Assets and Material Changes to Ceded Reinsurance Agreements to Commissioner

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  1. Every insurer domiciled in this state shall file a report with the Commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements unless such acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements have been submitted to the Commissioner for review, approval, or information purposes pursuant to other provisions of this title, regulations, or other requirements.
    1. The report required in subsection (a) of this Code section is due within 15 days after the end of the calendar month in which any of the covered transactions occur.
    2. One complete copy of the report, including any exhibits or other attachments filed as part thereof, shall be filed with:
      1. The Commissioner; and
      2. The National Association of Insurance Commissioners.
  3. All reports obtained by or disclosed to the Commissioner pursuant to this Code section shall be given confidential treatment, shall not be subject to subpoena, and shall not be made public by the Commissioner, the National Association of Insurance Commissioners, or any other person, except to insurance departments of other states, without the prior written consent of the insurer to which it pertains unless the Commissioner, after giving the insurer who would be affected thereby notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication thereof, in which event the Commissioner may publish all or any part thereof in such manner as he or she may deem appropriate.

(Code 1981, §33-55-1, enacted by Ga. L. 1995, p. 1348, § 8; Ga. L. 2019, p. 533, § 1-18/HB 99.)

The 2019 amendment, effective July 1, 2019, deleted "of Insurance" following "Commissioner" in subparagraph (b)(2)(A).


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