The Georgia House of Representatives’ Blue-Ribbon Study Committee on Insurance Rates convened in Atlanta on August 28. The committee, led by Representative Matt Reeves, focused its discussions on how insurance rates are set, the profit margins within the industry, claims processing procedures, and adherence to regulations.
The committee was established with the purpose of reviewing practices that affect insurance rates for small businesses and consumers across Georgia. Members aim to address concerns about potential unjustified increases in insurance premiums.
NFIB State Director Hunter Loggins commented on the formation and objectives of the committee. “This study committee is a direct response to the passage of our tort reform measure, which waswhich was intended to balance our legal system and help stabilize the insurance market in Georgia,” Loggins said. “We’ll be following the committee’s work closely to make sure that insurance rates will do begin to decline.”
The creation of this study group follows recent legislative efforts to reform legal standards impacting insurance and seeks to monitor outcomes related to those changes.
