Examination of Admitted Insurers; Examination of Insurers Transacting Workers' Compensation Insurance

  1. Law
  2. Georgia Code
  3. Insurance
  4. Regulation of Rates, Underwriting Rules, and Related Organizations
  5. Examination of Admitted Insurers; Examination of Insurers Transacting Workers' Compensation Insurance

Checkout our iOS App for a better way to browser and research.

  1. The Commissioner may, at any reasonable time, make or cause to be made an examination of every admitted insurer transacting any class of insurance to which this chapter is applicable to ascertain whether the insurer and every rate and rating system used by it for each class of insurance complies with the requirements and standards of this chapter applicable thereto. The examination shall not be a part of a periodic general examination participated in by representatives of more than one state.
  2. In addition to and apart from the examination required by subsection (a) of this Code section, the Commissioner may, at any reasonable time, examine or cause to be examined by some examiner duly authorized by him or her all insurers transacting workers' compensation insurance in this state. This examination will include a review of the loss ratios, reserves, reserve development information, expenses including commissions paid and dividends paid, investment income, pure premium data adjusted for loss development and loss trending, profits, and all other data and information used by that insurer in formulating its workers' compensation rates which are used in this state and any other information or data required by the Commissioner. Upon completion of this examination, a report in such form as the Commissioner shall prescribe shall be filed in his or her office.

(Code 1933, § 56-524, enacted by Ga. L. 1967, p. 684, § 1; Ga. L. 1982, p. 644, § 4; Ga. L. 2019, p. 337, § 1-50/SB 132.)

The 2019 amendment, effective July 1, 2019, in subsection (b), inserted "or her" in the first sentence and near the end of the last sentence and deleted "premium" following "workers' compensation" in the second sentence.


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