Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-15 - REPORTING OF POLICY CANCELLATIONS AND NONRENEWALS
Rule 120-2-15-.04 - Quarterly Reporting of Residential Property. Cancellations and Nonrenewals
Current through Rules and Regulations filed through September 23, 2024
On or before the first day of February, May, August, and November, unless notified by the Commissioner to cease prior thereto, and continuing until notified by the Commissioner to cease, all insurance companies transacting business in the State of Georgia and issuing policies of insurance on residential property shall file with the Office of Commissioner of Insurance, Property and Casualty Division, the following information, as a minimum, on Form GID-RP-1:
(a) The total number of residential real property insurance policies which have been cancelled or nonrenewed by the insurer during the preceding calendar quarter.
(b) The information required in subsection (a) shall be submitted by completing Form GID-RP-1 attached hereto and incorporated as a part of this Rule. In addition, the Commissioner or his or her designee may require that the same information be submitted on IBM-formatted diskette, Double Density (DD) or High Density (HD) capacity. Every policy which has been cancelled or nonrenewed shall be listed indicating the city street address, ZIP code, county, and the policy number. In addition, the submission should indicate the reasons for the cancellation or nonrenewal. This Rule does not apply to those policies cancelled or nonrenewed by the insurer for nonpayment of premium or to those policies cancelled and reissued by the same insurer when there is no gap in insurance coverage on the property which is insured.
(c) The insurer shall provide notice to the insured of cancellation or nonrenewal of policies of insurance against direct loss to residential real property and the contents thereof, as required by O.C.G.A. §§ 33-24-44 and 33-24-46. Such notice of cancellation or nonrenewal from the insurer shall be accompanied by the specific reason or reasons for such cancellation or nonrenewal, which reason or reasons shall be in language sufficiently clear and specific so that a person of average intelligence can identify the basis for the insurer's decision without further inquiry. Such notice must be accompanied by a tender of any unearned premium paid by the insured calculated on a pro rata basis, but if not accompanied by such notice, such tender shall be made on or before the cancellation date or no later than thirty (30) days after such notice is delivered in person or mailed, whichever is later, unless an audit or rate investigation is required, in which case such tender shall be made as soon as practicable.
(d) The notice required under subsection (c) above shall be delivered in person or by depositing such notice in the United States mail to be dispatched by at least first class mail to the last address of record of the insured and receiving therefore the receipt provided by the United States Postal Service or such other evidence of mailing as prescribed or accepted by the United States Postal Service.
(e) When a policy is cancelled, other than for nonpayment of premium, or in the event of a failure to renew or continue a policy, the insurer shall notify the named insured of his or her possible eligibility for insurance through the Georgia Fair Access to Insurance Requirements Plan. Such notice shall accompany or be included in the notice of cancellation or the notice of intent not to renew, or not to continue the policy, and is given pursuant to this section. Included in such notice shall be the address by which the Georgia Fair Access to Insurance Requirements Plan might be contacted in order to determine eligibility.
Ga. L. 1960, pp. 289, 305; Ga. L. 1975, p. 22, O.C.G.A. Secs. 33-2-9, 33-6-6, 33-24-44, 33-24-46, 33-39-1, 33-39-15.
