Bill > HB345

This bill adds a new section to Georgia's insurance code that prohibits insurance companies from raising liability insurance rates for a five-year period. Specifically, the bill prevents insurers from increasing liability insurance rates from January 1, 2026, until January 1, 2031, when the provision will automatically be repealed. The bill will apply to all insurance policies, contracts, and certificates that are executed, delivered, issued, continued, or renewed in Georgia during this time frame. By implementing this rate freeze, the legislation aims to provide financial relief to insurance consumers by preventing insurers from raising their liability insurance premiums. The bill will take effect on January 1, 2026, and will supersede any existing laws that might conflict with its provisions, effectively creating a temporary moratorium on liability insurance rate increases in the state of Georgia.

Business and Industry

https://www.legis.ga.gov/legislation/70102