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GA HB1114
Bill
Status
Passed
4/22/2024
Primary Sponsor
Will Wade
Click for details
AI Summary
- Directs the Georgia Insurance Commissioner to collect data from insurers, licensed rating organizations, and state agencies on tort claims, including number of lawsuits filed, attorneys' fees, court costs, and total incurred claim values, using data from January 1, 2019, onward
- Requires the Commissioner to analyze how tort-related risk is reflected in insurance premiums, identify which aspects of tort risk have the largest impact on premiums, and assess the potential effects of tort law changes on premiums
- Mandates an initial report to the Governor's Office, House Committee on Insurance, and Senate Insurance and Labor Committee by November 1, 2024, and a subsequent report by November 1, 2029, including historic/predictive trends, effects of enacted tort reform legislation, and recommendations for further legislative action
- Applies to all insurers writing tort liability insurance in Georgia, including stock and mutual companies, surplus lines, and nonadmitted insurers; the Commissioner may exempt certain insurers or types of insurance by rule or order
- All collected data is confidential, exempt from open records disclosure, not subject to subpoena or discovery in private civil actions; the entire chapter automatically repeals on January 1, 2030
Legislative Description
Data Analysis for Tort Reform Act; enact
Last Action
Effective Date 2024-04-22
4/22/2024
Committee Referrals
Insurance and Labor2/26/2024
Insurance2/6/2024
Full Bill Text
No bill text available