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 120-2-18 - BUSINESS REQUIREMENTS
Rule 120-2-18-.06 - Insurers Financial Reports

(1) Each insurer licensed to transact insurance in this State shall file on or before March 1 of each year a financial report of its business and affairs as of December 31 of the calendar year then next preceding. Such report shall be filed on the appropriate Blanks as follows: Fire and Casualty Blank; Fraternal Orders Blank; Life and Accident and Health Blank; Health Blank; Hospital, Medical and Dental Service or Indemnity Corporations Blank; Title Insurance Blank; Separate Accounts Blank; and Variable Life Separate Accounts Blank. The financial reports required by this Rule shall be prepared in accordance with the National Association of Insurance Commissioners (NAIC) Annual Statement Instructions and the NAIC Accounting Practices and Procedures Manual which are incorporated herein by reference. Additionally, all materials required to be filed with the Department must also be submitted to the NAIC pursuant to O.C.G.A. § 33-3-21.3in such format as prescribed by the NAIC. Such insurer shall compile and report all information or data necessary to truthfully and fully complete the appropriate Blank listed above, including all interrogatories, which are applicable to that particular insurer, which best reflect the types or kinds of insurance that insurer transacts unless it is unequivocally clear that such data or information does not apply to such insurer. Additionally, each insurer shall supply, insert or attach to its annual report all data, information and answers required or suggested by any note, footnote or lack of space in the Blank. After supplying all answers, information or data necessary or proper to complete such Blank in every detail, such insurer shall cause its officers specified in such Blank to subscribe to the oath appearing on page one of such Blank.

(2) Each insurer licensed to transact insurance in this State shall file quarterly financial reports on the applicable NAIC Blank. Such reports of its business and affairs shall be as of March 31, June 30 and September 30 and shall be due May 15, August 15 and November 15 respectively.

(3) Privately printed or commercially printed Blanks may be submitted to the Office of Commissioner of Insurance to satisfy the requirements of this Rule as long as the Blank submitted complies in all respects with the appropriate Blank or Blanks that insurer must file.

(4) The Commissioner may by Order obtain monthly financial reports from an insurer. Such financial information shall be truthfully and completely reported in such form as may be requested by the Commissioner for the proper supervision and monitoring of the financial condition of an insurer.

(5) In addition to the reports otherwise required by this Regulation Chapter, each insurer licensed to transact business in this State must electronically file its annual report and such other reports as prescribed by the Commissioner with the NAIC. Such electronic filings must conform to the format and instructions promulgated by the NAIC.