The Division of Insurance & Financial Oversight (“IFO”) is responsible for monitoring the financial condition of insurance companies and other regulated entities by applying the requirements of Georgia laws, regulations, bulletins, and directives.
IFO performs the following activities:
• Financial Analysis
• Financial Examinations
• Market Regulation (Market Analysis and Market Conduct Examinations)
• Licensing and Statutory Deposits
• Supervision, Rehabilitation and Liquidations
IFO monitors insurer’s solvency and market activities for the protection of consumers. Additionally, IFO monitors, detects, analyzes, and reports suspected fraudulent financial activities to the Legal Division.
Insurers and other regulated entities are required to make various filings with the Office and must follow financial reporting consistent with those methods prescribed under the NAIC Annual Statement Instructions, Statements of Statutory Accounting Principles and/or the Office of Commissioner of Insurance.