GA HB606

Authorizes the directors of Georgia's FAIR Plan underwriting association to redistribute high-risk property insurance policies among member insurers on a more equitable basis, subject to Commissioner approval

Adds a new provision allowing risk distribution to deviate from the current market-share-based formula, where insurers participate proportionally to their habitational or commercial premiums written

Aims to reduce individual insurer exposure, stabilize the FAIR Plan (which provides coverage to those unable to obtain private market insurance), and discourage insurers from cherry-picking low-risk policies

Requires that if equitable redistribution is not implemented, risks will continue to be distributed based on the existing proportional market share formula

Effective date: January 1, 2026