§ 33-36-19. Advertisements, Announcements, or Statements Using Insolvency Pool for Purpose of Sales
No person, including an insurer or agent or affiliate of an insurer, shall make, publish, disseminate, circulate, or place before the public or cause directly or indirectly to be made, published, disseminated, circulated, or placed before the public in any newspaper, magazine, or other publication; in the form of a notice, circular, pamphlet, letter, or […]
§ 33-36-20. Liability of Pool to Claimants and Electing Insureds in Emergency Circumstances; Definitions; Exceptions
It is the policy of this state to protect insureds and their claimants from liability as a result of the insolvency of insurers. In furtherance of this policy, it is the intent of the legislature, notwithstanding any provision of law to the contrary, that the Georgia Insurers Insolvency Pool shall be liable to claimants and […]
§ 33-36-10. Recovery Under Chapter of Covered Claims Recoverable Under Insolvency Funds of Other States
It is not the purpose of this chapter to provide or permit duplicate recoveries of covered claims under this chapter and an insolvency fund or its equivalent of any other state. In the construction and application of this chapter with respect to a covered claim which may be recoverable under this chapter and under an […]
§ 33-36-11. Limitation for Filing Claims; Claims Filed After Final Date Set by Court; Default Judgments
Notwithstanding any other provisions of this chapter, except as provided for in Code Section 33-36-20, a covered claim shall not include a claim filed with the pool after the earlier of (1) 18 months after the date of the order of liquidation, or (2) the final date set by the court for the filing of […]
§ 33-36-12. Powers and Duties of Commissioner as to Collection of Assessments; Judicial Review
The Commissioner shall bring an action for and recover, on behalf of the pool, any assessment not paid when due. He may, after notice and hearing, revoke the certificate of authority to transact business in this state of an insurer who is a member of the pool which fails to pay an assessment when due […]
§ 33-36-13. Allowance of Claims by Receivers, Liquidators, or Statutory Successors; Appointment of Pool as Insurer’s Agent
With respect to insolvent insurers incorporated in this state, the receiver, liquidator, or statutory successor shall allow as a proper claim on the assets of the insolvent insurer amounts paid under this chapter by or on behalf of the pool or paid by an insolvency fund or its equivalent in another state on or with […]
§ 33-36-14. Exhaustion of Rights by Claimants Against Insolvent Insurers Prior to Recovery; Recovery of Payment to Claimants in Excess of Amounts Authorized; Reduction of Liability of Insured; Recovery of Amounts Paid on Behalf of Certain Persons
Except as provided for in Code Section 33-36-20, any person having a claim against a policy or an insured under a policy issued by an insolvent insurer, which claim is a covered claim and is also a claim within the coverage of any policy issued by a solvent insurer, shall be required to exhaust first […]
§ 33-36-14.1. Recommendations and Report by the Board of Trustees
To aid in the detection and prevention of insurer insolvencies: The board of trustees may, upon majority vote, make recommendations to the Commissioner for the detection and prevention of insurer insolvencies; The board of trustees may, upon majority vote, make recommendations to the Commissioner on matters generally related to improving or enhancing regulation for solvency; […]
§ 33-36-15. Examination of Pool
The pool shall be deemed a company or insurer within the scope of Code Section 33-2-11 relating to examinations. Notwithstanding the provisions of Code Section 33-2-11 or this Code section, whether such examinations shall be conducted and the frequency of any such examinations shall be at the sole discretion of the Commissioner. History. Ga. L. […]
§ 33-36-16. Exemption From Taxation of Pool
The pool shall be exempt from all license fees, income, franchise, privilege, occupation, or other taxes levied or assessed by the state, any municipality, county, or other political subdivision of the state, except state, county, or municipal taxes upon the real or personal property of the pool, which shall be assessed and taxed in the […]