summary
Introduced
03/06/2025
03/06/2025
In Committee
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To amend Title 33 of the Official Code of Georgia Annotated, relating to insurance, so as to increase transparency and accountability in the insurance industry and at the office of the Commissioner of Insurance; to provide for an insurance consumer and policyholder advocate within the office of the Commissioner of Insurance; to provide for definitions; to provide for the duties of such advocate; to provide for such advocate to represent insurance consumers and policyholders at certain proceedings; to provide for rules and regulations; to prohibit rates from being unjustifiably increased; to revise standards for the making and use of rates of insurance; to eliminate the file-and-use system for private passenger automobile insurance; to revise the time the department has to review rate filings; to require insurers to submit additional documentation when a proposed rate filing will increase rates; to provide for additional review and procedures for a rate filing that increases a rate by more than ten percent within any 12 month period; to provide for open records; to provide for the approval of rate increases under certain conditions; to authorize such advocate to review and investigate complaints; to provide for such advocate to request a hearing; to provide for related matters; to provide for a short title; to provide for legislative purpose; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.
AI Summary
This bill creates the Georgia Insurance Consumer and Policyholder Advocacy Act, which establishes a new insurance consumer and policyholder advocate position within the Georgia Insurance Commissioner's office to protect consumers' interests. The advocate will have broad responsibilities including reviewing insurance practices, participating in rate approval processes, educating consumers about insurance risks and benefits, and appearing on behalf of consumers in administrative and judicial proceedings. The bill significantly reforms insurance rate-setting procedures by requiring more transparency in rate increases, mandating detailed documentation for rate filings that increase rates by 10% or more within a 12-month period, and giving the advocate authority to investigate complaints and request hearings. Key provisions include prohibiting unjustified rate increases, requiring insurers to submit comprehensive documentation when proposing rate hikes, extending review periods for rate filings, and ensuring that all rate increase filings are publicly available on the Commissioner's website. The legislation aims to enhance fairness and accountability in the insurance industry by providing stronger consumer protections, increasing regulatory oversight, and creating a dedicated advocate to represent policyholders' interests. The act will take effect on July 1, 2025, and will apply to all insurance policies issued or renewed after that date.
Committee Categories
Budget and Finance
Sponsors (6)
Saira Draper (D)*,
Scott Holcomb (D)*,
Trey Kelley (R)*,
Tanya Miller (D)*,
Tyler Smith (R)*,
Long Tran (D)*,
Last Action
House Second Readers (on 03/11/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/71186 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/235369 |
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