§ 33-56-7. Notification to Insurer of Determination or Action by Commissioner; Right to Hearing
Upon notification: To an insurer by the Commissioner of an adjusted RBC report; To an insurer by the Commissioner that: The insurer’s RBC plan or revised RBC plan is unsatisfactory; and Such notification constitutes a regulatory action level event with respect to such insurer; To any insurer by the Commissioner that the insurer has failed […]
§ 33-56-8. Confidentiality of Certain Information and Corrective Orders
Notwithstanding the provisions of Article 4 of Chapter 18 of Title 50, all RBC reports, to the extent the information therein is not required to be set forth in a publicly available annual statement schedule, and RBC plans, including the results or report of any examination or analysis of an insurer performed pursuant hereto, and […]
§ 33-56-9. Chapter Supplemental to Other Laws; Exemption for Certain Domestic Property and Casualty Insurance
The provisions of this chapter are supplemental to any other provisions of the laws of this state and shall not preclude or limit any other powers or duties of the Commissioner under such laws, including, but not limited to, Chapters 2, 3, 13, 14, 20, 21, and 37 of this title. The Commissioner may exempt […]
§ 33-56-10. Foreign Insurers; Responsibility of Domestic Insurers to Other States
Any foreign insurer shall, upon the written request of the Commissioner, submit to the Commissioner an RBC report as of the end of the previous calendar year the later of: The date an RBC report would be required to be filed by a domestic insurer under this chapter; or Fifteen days after the request is […]
§ 33-56-11. Immunity of Commissioner and Department
There shall be no liability on the part of, and no cause of action shall arise against, the Commissioner or the department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter. History. Code 1981, § 33-56-11 , enacted by Ga. L. 1996, […]
§ 33-56-13. Effective Date of Notices by Commissioner
All notices by the Commissioner to an insurer which may result in regulatory action under this chapter shall be effective upon dispatch if transmitted by registered or certified mail or statutory overnight delivery or, in the case of any other transmission, shall be effective upon the insurer’s receipt of such notice. History. Code 1981, § […]
§ 33-56-5. Authorized Control Level Events; Actions by Commissioner
For the purposes of this Code section, “authorized control level event” means any of the following events: The filing of an RBC report by the insurer which indicates that the insurer’s total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC; The notification […]
§ 33-56-6. Mandatory Control Level Events; Actions by Commissioner
For purposes of this Code section, “mandatory control level event” means any of the following events: The filing of an RBC report which indicates that the insurer’s total adjusted capital is less than its mandatory control level RBC; Notification by the Commissioner to the insurer of an adjusted RBC report that indicates the event in […]
§ 33-56-1. Definitions
As used in this chapter, the term: “Adjusted RBC report” means an RBC report which has been adjusted in accordance with subsection (e) of Code Section 33-56-2. “Corrective order” means an order issued by the Commissioner specifying corrective actions which the Commissioner has determined are required. “Domestic insurer” means an insurer as defined in paragraph […]
§ 33-56-2. Annual Risk-Based Capital Level Report Required; Computations
Every domestic insurer shall, on or prior to each March 1, prepare and submit to the Commissioner a report of its RBC levels, as of the end of the previous calendar year, containing such information as is required by the RBC instructions. In addition, every domestic insurer shall file its RBC report: With the NAIC […]