Rule 120-2-40-.16. Rate Filings
- (1) Agencies shall file with the Commissioner rates, rating systems and rules for approval prior to their use pursuant to O.C.G.A. §§ 20-2-2005(c)(13) and 36-85-5(c)(13). Such rates, rating systems and rules shall be determined by a qualified rating organization as defined in O.C.G.A. § 33-9-2(3) or by a qualified casualty actuary, a person who is a member in good standing of the American Academy of Actuaries, or by a person approved by the Commissioner who has sufficient expertise in that particular class or line of insurance.
- (2) Funds operating for purposes of jointly purchasing group accident, disability, or supplemental medical insurance coverage from an insurer licensed in Georgia for the benefit of the Funds' Members, shall apply rates filed by the licensed insurer with the Commissioner and shall not be required to make a separate rate filing. The Fund may bill additional fees as necessary to cover operating expenses and maintain minimum surplus requirements.
Editor's Note: In accordance with Ga. Laws 1967, p. 618, (Ga. Code Ann., Section 3A-124), the contents of the following Rules are not filed with or published by the Secretary of State; only the name and designation is filed, printed, and distributed. These Regulations are on file in the office of the Comptroller General and are open for public examination and copying. (See Editor's Note, p. 88.03.)
Authority: O.C.G.A. §§ 20-2-2016, 33-2-9; 50-13-21.
History. Original Rule entitled "Rate Filings" was filed on April 10, 1987; effective April 30, 1987.
Amended: F. Aug. 4, 2025; eff. Aug. 24, 2025.