O.C.G.A. § 33-9-29 (2019)
Issuance of remedial orders by Commissioner generally; suspension or revocation of certificate of authority or license
If after a hearing pursuant to Code Section 33-9-28 the Commissioner finds:
(1) That any rate, rating plan, or rating system violates the applicable provisions of this chapter, he may issue an order to the insurer or rating organization which has been the subject of the hearing specifying in what respects the violation exists and stating when, within a reasonable period of time, the further use of the rate or rating system by the insurer or rating organization in contracts of insurance made thereafter shall be prohibited and may further order that the portion of premiums received from current policyholders as a result of the most recent rate increase at the time the notice of such hearing is issued shall be refunded to the policyholders;
(2) That an insurer, rating organization, advisory organization, or a group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance is in violation of the provisions of this chapter applicable to it other than the provisions dealing with rates, rating plans, or rating system, he may issue an order to the insurer, organization, group, or association which has been the subject of the hearing specifying in what respects the violation exists and requiring compliance within a reasonable time thereafter;
(3) That the violation of this chapter applicable to it by any insurer or rating organization which has been the subject of the hearing was willful, he may suspend or revoke, in whole or in part, the certificate of authority of each insurer or the license of each rating organization with respect to the class of insurance which has been the subject matter of the hearing;
(4) That any rating organization has willfully engaged in any fraudulent or dishonest act or practices, he may suspend or revoke, in whole or in part, the license of the organization in addition to any other penalty provided in this chapter.
History
Code 1933, § 56-530, enacted by Ga. L. 1967, p. 684, § 1; Ga. L. 1986, p. 698, § 3; Ga. L. 1987, p. 3, § 33.
Annotations
JUDICIAL DECISIONS Commissioner may prohibit rate but not require refund of collected premiums. - Under paragraph (1) of this section the limit of the Commissioner’s authority where the Commissioner finds a rate to be violative of this chapter is to direct that the rate shall thereafter be prohibited. The Commissioner cannot order the insurer to make refunds of excessive premiums already paid. Allstate Ins. Co. v. Bentley, 122 Ga. App. 738, 178
S.E.2d 700 (1970), modified, 227 Ga. 708, 182 S.E.2d 770 (1971) (decided prior to 1986 amendment). The Commissioner has authority only to prohibit the use of rates and not to order refunds of premiums already collected under rates subsequently prohibited. Caldwell v. Insurance Co. of N. Am., 235 Ga. 141, 218 S.E.2d 754 (1975) (decided prior to 1986 amendment).
RESEARCH REFERENCES Am. Jur. 2d. - 43 Am. Jur. 2d, Insurance, § 20 et seq.
C.J.S. - 44 C.J.S., Insurance, § 63 et seq.