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. ยงยง
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.
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Notes
Ga. Comp. R.
& Regs. R.
120-2-15-.04
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.
Original Rule entitled
"Quarterly Reporting of Residential Property Cancellations and Nonrenewals" was
filed on October 23, 1979; effective
November 12, 1979.
Repealed: New Rule entitled "Quarterly Reporting of
Residential Property Cancellations, Nonrenewals and Declinations" adopted. F.
Oct. 7, 1994; eff.
Oct. 27, 1994.
Amended: Rule retitled "Quarterly Reporting of
Residential Property Cancellations and Nonrenewals". F.
Aug. 8, 1996; eff.
Aug. 28,
1996.
