§ 33-36-1. Short Title
This chapter shall be known and may be cited as the “Georgia Insurers Insolvency Pool Act.” History. Ga. L. 1970, p. 700, § 1.
§ 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 […]
§ 33-36-16.1. Immunity From Liability for Performance of Powers and Duties Under This Chapter
There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer, the pool or its agents or employees, the board of trustees, or any person serving as a representative of any member of the board of trustees for any action taken or any […]
§ 33-36-17. Termination of Operation of Pool as to Particular Kinds of Insurance; Proceeds Upon Termination of Operation of Pool; Expiration of Pool
The Commissioner shall by order terminate the operation of the insolvency pool as to any kind of insurance afforded by property or casualty insurance policies with respect to which he has found, after hearing, that there is in effect a statutory or voluntary plan which: Is a permanent plan which is adequately funded or for […]
§ 33-36-18. Appeal to Commissioner; Judicial Review
Any action of the Insurers Solvency Board may be appealed to the Commissioner by any member insurer if such appeal is taken within 30 days of the action being appealed. Any final action or order of the Commissioner shall be subject to judicial review in a court of competent jurisdiction. History. Code 1981, § 33-36-18 […]
§ 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 […]
§ 33-36-2. Creation; Accounts; Responsibility; Supervision and Regulation
There is created a Georgia Insurers Insolvency Pool which shall consist of three accounts: (1) workers’ compensation account; (2) automobile account; and (3) all other covered insurance account. The pool shall be responsible for the investigation, adjustment, compromise, settlement, and payment of covered claims; for the investigation, handling, and denial of noncovered claims; and for […]
§ 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 […]
§ 33-36-3. Definitions
As used in this chapter, the term: “Affiliate” means a person who, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person. “Affiliate of the insolvent insurer” means a person who, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is […]
§ 33-36-4. Insurers Solvency Board
There shall be a board of trustees of the Georgia Insurers Insolvency Pool which shall be known as the Insurers Solvency Board and which shall consist of seven members. At all times, the board shall contain at least one member from a domestic insurer. The members of the board shall not be considered employees of […]
§ 33-36-5. Insurers Required to Become Members of Pool
Every insurer authorized to write property or casualty insurance policies in this state shall be a member of the insolvency pool and shall be liable for assessments pursuant to Code Section 33-36-7 and shall also be responsible for the other obligations imposed pursuant to this chapter. History. Ga. L. 1970, p. 700, § 4.
§ 33-36-6. Plan to Govern Members; Rules; Requirements for Plan; Assignment of Claims or Judgments Against Insolvent Insurers; Claimants of Assets of Insolvent Insurers; Jurisdiction; Venue
The Georgia Insurers Insolvency Pool is a nonprofit legal entity with the right to bring and defend actions and such right to bring and defend actions includes the power and right to intervene as a party before any court in this state that has jurisdiction over an insolvent insurer as defined in this chapter. The […]
§ 33-36-7. Levy of Assessments Against Insurers; Reimbursement of Expenses; Refunds of Assessments
For the purposes of administration and assessment under this Code section, the pool shall be divided into three separate accounts: (1) workers’ compensation insurance account; (2) automobile insurance account; and (3) all other covered insurance account. Separate assessment shall be made for each account. No assessment shall be levied for any account as long as […]