Title 33 — Title 33
0 chapters · 1,218 sections in this title.
O.C.G.A. § 33-39-4 Pretext interviews
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No insurance institution, agent, or insurance-support organization shall use or authorize the use of pretext interviews to obtain information in connection with an insurance transaction; provided, however, a pretext interview may be undertaken to obtain information from a person …
O.C.G.A. § 33-39-8 Investigative consumer reports
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(a) No insurance institution, agent, or insurance-support organization may prepare or request an investigative consumer report about an individual in connection with an insurance transaction involving an application for insurance, a policy renewal, a policy reinstatement, or a ch…
O.C.G.A. § 33-39-9 Access to recorded personal information
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(a) If any individual, after proper identification, submits a written request to an insurance institution, agent, or insurance-support orga817 33-39-9 nization for access to recorded personal information about the individual which is reasonably described by the individual and reas…
O.C.G.A. § 33-40-1 Purpose
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The purpose of this chapter is to regulate the formation and operation of risk retention groups in this state formed pursuant to the provisions of the federal Liability Risk Retention Act of 1986 (RRA 1986). History. — Code 1981, § 33-40-1, enacted by Ga. L. 1987, p. 875, § 1. 33…
O.C.G.A. § 33-40-10 Insurance companies as members
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No risk retention group shall be allowed to do business in this state if an insurance company is directly or indirectly a member or owner of such risk retention group, other than in the case of a risk retention group comprised solely of insurance companies. History. — Code 1981, …
O.C.G.A. § 33-40-11 Financially impaired nonresident groups
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A risk retention group not chartered in this state and doing business in this state must comply with a lawful order issued in a voluntary dissolution proceeding or in a delinquency proceeding commenced by a state insurance commissioner if there has been a finding of financial impai…
O.C.G.A. § 33-40-12 Georgia Insurers Insolvency Pool
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No risk retention group shall be permitted to join or contribute financially to the Georgia Insurers Insolvency Pool under Chapter 36 of this title nor shall any risk retention group or its insureds receive any benefit from the Georgia Insurers Insolvency Pool for claims arising ou…
O.C.G.A. § 33-40-13 Countersigning policies
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Reserved. Repealed by Ga. L. 1999, p. 878, § 14, effective July 1, 1999. Editor’s notes. — This Code section was based on Code 1981, § 33-40-13, enacted by Ga. L. 1987, p. 875, § 1. 841 33-40-15 33-40-14. Federal purchasing groups.
O.C.G.A. § 33-40-14 Federal purchasing groups
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Any purchasing group meeting the criteria established under the provisions of the federal Liability Risk Retention Act of 1986 shall be exempt from any law of this state relating to the creation of groups for the purchase of insurance, prohibition of group purchasing, or any law …
O.C.G.A. § 33-40-15 Purchasing group requirements
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(a) A purchasing group which intends to do business in this state shall furnish to the Commissioner notice which shall: (1) Identify the state in which the group is domiciled; (2) Specify the lines and classifications of casualty or liability insurance which the purchasing group i…
O.C.G.A. § 33-40-16 Purchases by purchasing group
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A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed agent or broker acting pursuant to …
O.C.G.A. § 33-40-17 Enforcement
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The Commissioner is authorized to make use of any of the powers established under this title to enforce the laws of this state so long as those powers are not specifically preempted by the federal Product Liability Risk Retention Act of 1981, as amended by the Risk Retention Amend…
O.C.G.A. § 33-40-18 Penalties
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Any risk retention group which violates any provision of this chapter will be subject to fines and penalties applicable to licensed insurers generally, including revocation of its license or the right to do business in this state. History. — Code 1981, § 33-40-18, enacted by Ga. L…
O.C.G.A. § 33-40-19 License requirement
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Any person acting or offering to act as an agent or broker for a risk retention group or purchasing group which solicits members, sells insurance coverage, purchases coverage for its members located within the state, or otherwise does business in this state shall, before commenci…
O.C.G.A. § 33-40-2 Definitions
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As used in this chapter, the term: (1) ‘‘Commissioner’’ means the Commissioner of Insurance of the State of Georgia or the commissioner, director, or superintendent of insurance in any other state. (2) ‘‘Completed operations liability’’ means liability arising out of the installa…
O.C.G.A. § 33-40-20 Enforcement of federal order
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An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating, in any state, in all states, or in any territory or possession of the United States upon a finding that such a group is in a hazardous fin…
O.C.G.A. § 33-40-21 Rules
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Reserved. Repealed by Ga. L. 2019, p. 533, § 1-1/HB 99, effective July 1, 2019. Editor’s notes. — This Code section was based on Code 1981, § 33-40-21, enacted by Ga. L. 1987, p. 875, § 1. 844 T.33, C.41 CAPTIVE INSURANCE COMPANIES T.33, C.41 CHAPTER 41 CAPTIVE INSURANCE COMPANIE…
O.C.G.A. § 33-40-3 Risk retention groups chartered in this state
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A risk retention group seeking to be chartered in this state must be chartered and licensed as a casualty or liability insurance company as provided in this title or as a risk retention group captive insurance company under Chapter 41 of this title and, except as provided elsewhe…
O.C.G.A. § 33-40-4 Risk retention groups not chartered in this state
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(a) Risk retention groups chartered in states other than this state and seeking to do business as a risk retention group in this state must observe and abide by the laws of this state as provided in this Code section. (b) Before offering insurance in this state, a risk retention …
O.C.G.A. § 33-40-5 Tax on premiums
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(a) All premiums paid for coverages within this state to risk retention groups shall be subject to taxation at the rate of 4 percent on all premiums paid or due and payable during the preceding quarter, less return premium. Risk retention groups shall be subject to interest, fines…
O.C.G.A. § 33-40-6 Unfair trade practices
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Any risk retention group and its agents and representatives shall comply with Chapter 6 of this title and all rules and regulations promulgated pursuant to such chapter. History. — Code 1981, § 33-40-6, enacted by Ga. L. 1987, p. 875, § 1. 33-40-7. Financial examination.
O.C.G.A. § 33-40-7 Financial examination
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Any risk retention group must submit to an examination by the Commissioner to determine its financial condition if the commissioner of the jurisdiction in which the group is chartered has not initiated an examination or does not initiate an examination within 60 days after a reque…
O.C.G.A. § 33-40-8 Notice required in policy
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Any policy issued by a risk retention group shall contain in ten-point type on the front page and the declaration page the following notice: NOTICE This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and re…
O.C.G.A. § 33-40-9 Prohibited acts
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The following acts by a risk retention group are prohibited: (1) The solicitation or sale of insurance by a risk retention group to any person who is not eligible for membership in such group; and 840 33-40-13 (2) The solicitation or sale of insurance by, or operation of, a risk …
O.C.G.A. § 33-41-1 Short title
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This chapter shall be known and may be cited as the ‘‘Georgia Captive Insurance Company Act.’’ History. — Code 1981, § 33-41-1, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347. 33-41-2. Definitions.
O.C.G.A. § 33-41-10 Application for and issuance of certificate of authority
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(a) The application for an original certificate of authority for a captive insurance company must be filed with the Commissioner and shall contain the following: (1) A copy of the captive insurance company’s adopted or proposed articles of incorporation and bylaws or articles of or…
O.C.G.A. § 33-41-100 Application
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33-41-101. Definitions. 33-41-102. Protected cells; prior written approval; annual filing of financial reports; notification upon insolvency. 33-41-103. Incorporated protected cells; legal entity status; requirements for formation; naming; rights and authority. 33-41-104. Accounting …
O.C.G.A. § 33-41-101 Definitions
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As used in this article, the term: (1) ‘‘General account’’ means all the assets and liabilities of a sponsored captive insurance company that are not attributable to a protected cell. (2) ‘‘Incorporated protected cell’’ means a protected cell that is established as a stock corpor…
O.C.G.A. § 33-41-102 Protected cells, §33-41-102
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Commingling of assets prohibited, §33-41-105. Incorporated protected cells, §33-41-103. Accounting and financial matters, §33-41-104. Separation, §33-41-105. Reports, §33-41-102. Statutory construction. Applicability of general captive insurer provisions and provisions specific to …
O.C.G.A. § 33-41-104 Applicability, §33-41-100
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Commingling of assets prohibited, §33-41-105. Commissioner of insurance.
O.C.G.A. § 33-41-105 Commissioner of insurance
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Protected cells, prior written consent, §33-41-102. Confidentiality of information, applicability, §33-41-106. Definitions, §33-41-101. Incorporated protected cells, §33-41-103. Accounting and financial matters, §33-41-104. 1221 INDEX INSURANCE COMPANIES —Cont’d Captive insurance co…
O.C.G.A. § 33-41-106 Expenses of examinations
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Payment, §33-2-15. Fees, §33-8-1. Foreign companies, §33-2-11. Insurers insolvency pool, §33-36-15. Life and health insurance guaranty association members, §33-38-16. Powers of commissioner as to evidence and witnesses. Generally, §33-2-16. Rates and rating systems, §33-9-23. Reh…
O.C.G.A. § 33-41-11 Application for certificate
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Fees, §33-3-14. Required information, §33-3-13. Capital stock or surplus. Requirements, §33-3-6. Captive insurance companies, §§33-41-10, 33-41-11. INSURANCE COMPANIES —Cont’d Certificates of authority —Cont’d Deposit of securities. Requirements, §33-3-8. Designation as to whether…
O.C.G.A. § 33-41-12 Assets
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For the purposes of determining the financial condition of a captive insurance company, including, but not limited to, the maintenance of adequate reserves pursuant to Code Section 33-41-13, the reporting of business affairs pursuant to Code Section 33-41-15, and the examinations …
O.C.G.A. § 33-41-13 Reserves
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(a) Every captive insurance company shall maintain reserves in an amount estimated in the aggregate to provide for the payment of all unpaid losses and claims incurred, whether reported or unreported, for which such captive insurance company may be liable, together with the expen…
O.C.G.A. § 33-41-14 Reinsurance
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(a) A captive insurance company may cede any part of its risks to a reinsurer pursuant to a written reinsurance agreement and may take credit as an asset or a deduction from its liabilities for the amount of reinsurance premiums recoverable under such reinsurance agreement: (1) I…
O.C.G.A. § 33-41-15 Reports
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Each captive insurance company shall be required to file annual and other reports of its business affairs and operations as prescribed by Code Section 33-3-21. History. — Code 1981, § 33-41-15, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347. 33-41-16. Examina…
O.C.G.A. § 33-41-16 Examination by Commissioner or agent; confidentiality
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(a) The Commissioner or his or her designated agent may visit each captive insurance company at any time and examine its affairs in order to ascertain its financial condition, its ability to fulfill its contractual obligations, and its compliance with this chapter. For these purpos…
O.C.G.A. § 33-41-17 Imposition by commissioner, §33-2-24
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Own risk and solvency assessment (ORSA) summary reports. Failure to file, §33-13-39. Food or refreshments to prospective clients during sales presentation or seminars, §§33-6-4, 33-9-36. Foreign companies. Actions against. Service of process, §§33-4-3 to 33-4-5. Agents, brokers, s…
O.C.G.A. § 33-41-18 Investments
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Except as provided in Code Section 33-41-8: (1) Risk retention group captive insurance companies, industrial insured captive insurance companies, and association captive insurance companies shall comply with the investment requirements contained in Article 2 of Chapter 11 of this…
O.C.G.A. § 33-41-19 Rates, underwriting rules, and policy forms
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(a) No captive insurance company shall be required to join or use the rates, rating systems, underwriting rules, or policy or bond forms of a rating or advisory organization as defined in Code Section 33-9-2. (b) No captive insurance company shall be required to file its premium ra…
O.C.G.A. § 33-41-2 Definitions
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Terms not defined in this chapter shall have the same meaning ascribed to them in this title. As used in this chapter, unless the context otherwise requires, the term: (1) ‘‘Affiliate’’ means any person in the same corporate system as a parent, an industrial insured, or a member o…
O.C.G.A. § 33-41-20 Short title
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Definitions. Permissible business; limitations. Prerequisites to transacting insurance. Incorporation. Name. Directors or managers. Amount of capital or surplus. Letters of credit. Application for and issuance of certificate of authority. Refusal, suspension, or nonrenewal of certi…
O.C.G.A. § 33-41-21 Certificates of authority
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Suspension upon commencement of proceedings for conservatorship, §33-3-18. Foreign companies. Contents of order for conservation, §33-37-14. Life and health insurance guaranty association. Notification from conservator as to effect of chapter, §33-38-19. Deduction from gross asset…
O.C.G.A. § 33-41-22 Taxation
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In lieu of any other taxes imposed by this title, all captive insurance companies licensed under this chapter shall pay the following taxes: (1) A tax at the rate of 0.4 percent on the first $20 million and 0.3 percent on each dollar thereafter on its direct premiums collected, af…
O.C.G.A. § 33-41-23 Certificate of dormancy
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(a) A captive insurance company that meets the definition of a dormant captive insurance company set forth in this chapter may apply to the Commissioner for a certificate of dormancy on a form or forms as may be prescribed by the Commissioner. (b) A dormant captive insurance compan…
O.C.G.A. § 33-41-24 Rule making authority
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The Commissioner may adopt rules establishing standards to ensure that a pure captive insurance company’s parent or any of its affiliated companies is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the pure captiv…
O.C.G.A. § 33-41-25 Regulatory authority
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The Commissioner may establish such rules and regulations and issue such interpretive rulings as may be necessary to carry out the provisions of this chapter. History. — Code 1981, § 33-41-25, enacted by Ga. L. 2019, p. 533, § 2-13/HB 99. Effective date. — This Code section becam…
O.C.G.A. § 33-41-26 Incorporated protected cells
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Included in definition of captive insurance company, §33-41-5. Incorporation, §33-41-5. Insurers insolvency pool. Exclusion from funds, §33-41-20. Membership in, §33-41-20.1. INSURANCE COMPANIES —Cont’d Captive insurance companies —Cont’d Investments, §33-41-18. Letters of credit,…
O.C.G.A. § 33-41-3 Permissible business; limitations
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(a) Subject to the provisions of subsection (c) of this Code section and the other provisions of this chapter, a captive insurance company, where permitted by its formation documents, may engage in the business of any of the following kinds of insurance or reinsurance: (1) Casual…