ATLANTA – State Representative Darlene Taylor (R-Thomasville) recently announced the passage of House Bills 882, 883, and 884 by the House of Representatives last week. These bills, sponsored by Rep. Taylor, will now be considered by the Senate.
“These pieces of legislation were very important for the insurance industry in Georgia,” said Rep. Taylor. “Each serves as a tool to help modernize the Department of Insurance and will keep us in compliance with the National Association of Insurance Commissioners. Thank you to my colleagues in the House for the rapid turnaround and passage of these important bills.”
HB 882 eliminates the Code requirement that foreign insurers must deposit a certain amount for securities eligible for capital investment and now allows the commissioner to determine the amount. HB 883 updates provisions on insurer rehabilitation under the National Association of Insurance Commissioners standards. HB 884 revises the definition of “company action level event” and applies risk-based capital computations to health organizations.
For more information about HB 882, please click here.
For more information about HB 883, please click here.
For more information about HB 884, please click here.
Representative Darlene Taylor represents the citizens of District 173, which includes portions of Decatur, Grady, and Thomas counties. She was elected into the House of Representatives in 2010, and currently serves as the Vice Chairman on the Public Safety and Homeland Security Committee and the Secretary on the Governmental Affairs Committee. She also serves on the Appropriations Subcommittee on Health and the Agriculture & Consumer Affairs and Insurance committees.
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