Georgia Senate Bill SB364

Georgia 2025-2026 Regular Session

• Introduced: 3/27/25
• Refer: 3/28/25

Caption

Insurers; new penalties for insurers that knowingly give false or misleading information to the Commissioner of Insurance; provide

Summary

SB 364 amends Georgia insurance rate-regulation law to create a new penalty when an insurer, rating organization, advisory organization, or similar entity willfully withholds information from, or knowingly gives false or misleading information to, the Commissioner of Insurance in an effort to affect approved or allowed rates, rating systems, or premiums. If the Commissioner finds that conduct after a hearing, the bill authorizes an additional fine of up to ten times the amount the organization must refund to policyholders for the related rate violation. The bill also retains existing remedial powers under the insurance code, including orders to stop unlawful rate use, refunds to policyholders, compliance orders for other violations, and suspension or revocation of certificates of authority or licenses for willful violations or fraudulent/dishonest conduct. In effect, the measure strengthens enforcement tools against deceptive conduct in insurance rate filings and related regulatory proceedings.

Impact

The bill directly amends Code Section 33-9-29 in Chapter 9 of Title 33 of the Official Code of Georgia Annotated, which governs insurance rates, underwriting rules, and related organizations. It expands the Commissioner of Insurance’s enforcement authority by adding a specific monetary penalty tied to intentional misinformation that affects rates or premiums, while leaving existing refund, compliance, suspension, and revocation remedies in place. The practical impact is on insurers, rating organizations, advisory organizations, and similar insurance-related entities subject to Georgia rate regulation.

Sentiment

The available record shows no committee transcript, recorded vote, or other debate, so there is no documented public sentiment from legislative discussion in the materials provided. Based on the bill text and caption, the measure appears to be a regulatory enforcement bill aimed at deterring deceptive conduct in insurance rate-setting, which typically suggests a policy rationale focused on consumer protection and regulatory integrity.

Contention

The main point of contention inherent in the bill is the severity and breadth of the new penalty: opponents could view the ten-times-fine authority as a strong punitive tool that may increase regulatory risk for insurers, while supporters would likely argue it is necessary to deter intentional misinformation that can distort premiums and harm policyholders. Another possible issue is the standard for triggering the penalty—whether an organization “knowingly” gave false or misleading information “in an attempt to affect” rates—which may raise concerns about proof, enforcement discretion, and due process. No specific opposing or supporting groups are identified in the provided materials.