The primary functions of the Insurance Product Review - Property & Casualty Section involve the review of property and casualty insurance rates and the review for approval or disapproval of all policy forms for property and casualty insurance. Rates and rate revisions are reviewed to determine if they comply with the insurance law that requires that rates not be excessive, inadequate or unfairly discriminatory. Statistical plans which are reasonably adopted to each of the rating systems on file are received from statistical agencies and advisory organizations.
Policy forms are reviewed to determine that wording is not ambiguous, that coverage is not unduly restrictive, and that the contract covers a legitimate, insurable interest. This section is responsible for licensing rating bureaus and regulating advisory organizations and collecting such fees associated with new or renewal licenses. The Commissioner may examine any advisory organization in accordance with certain provisions found within O.C.G.A. Section 33-9-22.
In addition, the Property & Casualty Section regulates and/or coordinates with the FAIR Plan Governing Committee, the Federal Flood Insurance Plan, the Georgia Automobile Insurance Plan, and the Workers' Compensation Assigned Risk Plan.
Property & Casualty Form
Required forms may be found in SERFF.