GA SB385

Expands confidentiality protections for the Insurance Commissioner's examination work papers, analysis, and documents, while allowing disclosure to state, federal, or international regulatory agencies and law enforcement authorities provided recipients agree in writing to maintain confidentiality

Revises surplus lines premium tax calculations to account for Georgia's participation in cooperative agreements, compacts, or reciprocal agreements with other states, allocating taxes based on 4% for the Georgia portion of premiums plus applicable rates for risks located in other states

Authorizes the Governor, in consultation with the Commissioner of Insurance, to enter cooperative or reciprocal agreements with other states for collection of premium taxes under both Code Sections 33-5-31 and 33-5-33

Overhauls reinsurance credit provisions by creating a new "certified reinsurer" category, establishing qualified jurisdiction requirements for non-U.S. assuming insurers, requiring Commissioner-assigned ratings tied to security obligations, and adding concentration risk notification requirements when reinsurance recoverables from a single assuming insurer exceed 50% of surplus or ceded premiums exceed 20% of gross written premium

Permits insurance cancellation notices for nonpayment of premiums on automobile or motorcycle policies to be included with the monthly bill, provided the bill is mailed to the insured at least ten days prior to the due date