GA HR40

Creates a 7-member House Study Committee on Reinsurance for Essential Industries, with 5 members from the House Committee on Insurance plus the Commissioners of Insurance and Agriculture (or designees)

Committee will study public-private partnerships for Georgia's commercial property and casualty reinsurance market, including how the Georgia Department of Insurance would calculate reinsurance payments under a proposed "Reinsurance for Essential Industries Program"

Study prompted by rising insurance costs, including average quarterly price increases of 6% for commercial property and casualty insurance, and Hurricane Helene's $6.46 billion economic impact on Georgia agriculture

Committee tasked with identifying methods for state-facilitated special risk pools, funding needed for premium reductions, criteria for essential industries of strategic interest, and which industries would most benefit from reduced premiums

Committee must file a report with the Clerk of the House of Representatives and will be abolished on December 1, 2025