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 120-2-77 - LARGE COMMERCIAL INSURANCE RISK RATING
Rule 120-2-77-.06 - Statistical Reporting Requirement
Current through Rules and Regulations filed through September 23, 2024
(1) Each insurer shall maintain records concerning all data, statistics, or underwriting rules so that the Commissioner is able to determine whether that insurer is in compliance with applicable laws and Rules and Regulations. Such information shall also be reported through a recognized statistical agency or advisory organization pursuant to O.C.G.A. § 33-9-20. As a minimum requirement, an insurer shall maintain annual experience on number of risks, written premiums, written premiums at manual level, paid losses, and outstanding losses.
(2) The Commissioner may request an insurer to provide the data referenced in paragraph (1) at any time. Any insurer which fails to produce the data within thirty (30) days of such request shall forfeit the privilege afforded by this Regulation for a period of no less than eighteen (18) months.
(3) Reports submitted to demonstrate compliance with the Rules and Regulation of the Office of Commissioner of Insurance Chapter 120-2-41 shall omit the premiums written pursuant to this Regulation Chapter.
(4) Information collected pursuant to this Rule may be requested at any time in connection with a rate filing.
O.C.G.A. Secs. 33-2-9, 33-9-3, 33-9-20, 33-9-21.
