Title 33 — Title 33
0 chapters · 1,218 sections in this title.
O.C.G.A. § 33-49-1 Short title
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This chapter shall be known and may be cited as the ‘‘Reinsurance Intermediary Act.’’ History. — Code 1981, § 33-49-1, enacted by Ga. L. 1991, p. 1424, § 8.
O.C.G.A. § 33-49-10 Examination of reinsurance intermediaries and managers by Commissioner
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(a) A reinsurance intermediary shall be subject to examination by the Commissioner. The Commissioner shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the Commissioner. (b) A manager may be examined as if it were the re…
O.C.G.A. § 33-49-11 Violations; penalties
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(a) A reinsurance intermediary, insurer, or reinsurer found by the Commissioner, after a hearing conducted in accordance with Chapter 2 of this title, to be in violation of any provision of this chapter, shall: (1) For each separate violation, pay a penalty in an amount not excee…
O.C.G.A. § 33-49-2 Definitions
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As used in this chapter, the term: (1) ‘‘Actuary’’ means a person who is a member in good standing of the American Academy of Actuaries. (2) ‘‘Controlling person’’ means any person, firm, association, or corporation who directly or indirectly has the power to direct or cause to be…
O.C.G.A. § 33-49-3 Fees, §33-8-1
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Reinsurance intermediaries generally, §§33-49-1 to 33-49-11. Limited purpose subsidiary life insurance companies, §§33-14-100 to 33-14-109. Premium tax, §33-8-4. Property insurance, §33-7-6. Reciprocal insurers, §33-17-4. Riot reinsurance reimbursement fund, §33-33-5. 1298 INDEX …
O.C.G.A. § 33-49-4 Written authorization of relationship required; contents
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Transactions between a broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization specifying the responsibilities of each party. The authorization shall, at a minimum, provide that: (1) The insurer may terminate the broker…
O.C.G.A. § 33-49-5 Retention of records
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(a) For at least ten years after expiration of each contract of reinsurance transacted by the broker, the broker will keep a complete record for each transaction showing: (1) The type of contract, limits, underwriting restrictions, classes or risks, and territory; (2) The period …
O.C.G.A. § 33-49-7 Written contract required between manager and reinsurer; contents
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Transactions between a manager and the reinsurer it represents in such capacity shall only be entered into pursuant to a written contract, specifying the responsibilities of each party, which shall be approved by the reinsurer’s board of directors. At least 30 days before such re…
O.C.G.A. § 33-49-8 Restrictions on manager’s operations
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The manager shall not: (1) Cede retrocessions on behalf of the reinsurer, except that the manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocession…
O.C.G.A. § 33-49-9 Restrictions on reinsurer’s operations
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(a) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as a manager on its behalf unless such person is licensed as required by subsection (b) of Code Section 33-49-3. 949 33-49-11 (b) The reinsurer shall annually obtain a copy of sta…