Auto Insurance Excess Profits Act; enact

From the Legislature

A BILL to be entitled an Act to amend Chapter 9 of Title 33 of the Official Code of Georgia Annotated, relating to regulation of rates, underwriting rules, and related organizations, so as to provide for the Department of Insurance to collect certain data annually from insurers writing private passenger automobile insurance policies; to provide for the Commissioner of Insurance to order the refund of any excess profit made by such insurers; to provide for definitions; to provide for calculations; to provide for an order, notice, and opportunity for hearing; to provide for cash refunds or credit refunds; to provide for certification; to provide for rules and regulations; to provide for related matters; to provide for a short title; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.