Georgia Finalizes NAIC-Based Credit for Reinsurance Rules
Aug 12, 2013
Rules for Georgia’s 2012 adoption of the NAIC’s Credit for Reinsurance Model Law became effective on June 12, 2013.
Entitled “Credit for Reinsurance,” the regulations set forth Rules and procedural requirements that Georgia’s Insurance and Fire Safety Commissioner deems necessary to carry out the provisions of O.C.G.A. § 33-7-14, which allows credit for reinsurance to be given to insurers and reinsurers under certain circumstances in fulfillment of statutory obligations in the event of insolvency or liquidation.
To view the complete Rule, go to: http://www.oci.ga.gov/ExternalResources/ANNOUNCEMENTS/2058AR-5162013153911.pdf