Georgia Insurance Commissioner Discusses Rate Increases and Industry Losses

The Blue-Ribbon Committee on Insurance Rates convened on August 28, 2025, to discuss critical issues surrounding insurance rate increases in Georgia. The meeting highlighted the challenges faced by the state's insurance regulators and the ongoing struggles of insurance companies operating within Georgia.

Steve Manders, a key figure in the discussion, emphasized the extensive workload of the regulatory team, which is tasked with reviewing a high volume of insurance products—often exceeding 1,500 to 2,000 submissions. He noted that while artificial intelligence is used to generate these products, the review process remains manual to ensure compliance with state regulations. Manders pointed out that the authority to approve rate increases is limited by legislative guidelines, which do not consider fairness but rather adherence to established rules.

A significant point raised during the meeting was the financial struggles of certain insurance lines, particularly commercial auto insurance, which has reportedly been operating at a loss for the past decade. This sustained financial pressure has led some companies to withdraw coverage, citing unsustainable business practices.

The committee also addressed concerns regarding tort reform, with Representative Derek McCollum expressing initial apprehension but acknowledging the pressure from constituents for change. The discussions underscored the complex interplay between regulatory oversight, insurance company sustainability, and the need for legislative action.

As the committee continues its work, the implications of these discussions could lead to significant changes in how insurance rates are determined and regulated in Georgia, impacting both consumers and providers in the state.