TITLE 33 INSURANCE

Section 41. Captive Insurance Companies, 33-41-1 through 33-41-24.

ARTICLE 4 LIQUIDATION PROCEEDINGS

33-41-19. Rates, underwriting rules, and policy forms; notice on policies.

1. No captive insurance company shall be required to join or use the rates, rating systems, underwriting rules, or policy or bond forms of a rating or advisory organization as defined in Code Section 33-9-2.
2. No captive insurance company shall be required to file its premium rates or policy forms with, or seek approval of such rates or forms from, the Commissioner or any other authority of this state. However, the Commissioner shall impose minimum premiums upon association captive insurance companies which write motor vehicle liability insurance coverage required by law and do not participate in the Georgia Insurers Insolvency Pool.
3. Each captive insurance company shall provide the following notice in ten-point type on the front page and declaration page on all policies and on the front page of all applications for policies:

   "This captive insurance company is not subject to all of the insurance laws and regulations of the State of Georgia. State insurers insolvency guaranty funds are not available to the policyholders of this captive insurance company."

(Code 1981, §33-41-19, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347.)

The 2016 amendment, effective July 1, 2016, added the second sentence in subsection (b).