Georgia Insurance Department reviews rate filings amid staffing and tort reform discussions

The Blue-Ribbon Committee on Insurance Rates convened on August 28, 2025, to discuss critical issues affecting insurance rates in Georgia. The meeting highlighted a notable decrease in the frequency of workplace accidents, despite a slight increase in severity, prompting discussions on the potential impacts of new technologies and workplace safety measures. The committee expressed optimism about the profitability of insurance lines, contingent on forthcoming legislative recommendations.

A significant focus of the meeting was the department's capacity to handle rate filings efficiently. Currently, the department employs 14 staff members to review approximately 3,000 rate filings and 3,500 form filings annually. The committee acknowledged the challenges posed by staffing shortages and the complexity of certain filings, which often require outsourcing. Efforts are underway to enhance staffing through partnerships with local universities and programs aimed at supporting actuaries in their professional development.

The discussion also touched on the anticipated effects of tort reform on insurance rates. Committee members noted that while tort reform is just one of many factors influencing rates, its impact could be assessed through overall reductions in losses over time. The committee expects to see measurable results in about three years.

Consumer service issues were raised, particularly regarding claims handling. Legislators expressed concerns about adjusters' practices and the adequacy of inspections, emphasizing the need for transparency and accountability in the claims process. The department reassured attendees that a consumer portal is available for policyholders to report issues and seek assistance.

The meeting concluded with discussions on the regulatory framework governing rate increases. It was noted that while the department can challenge excessive rate increases, most cases are resolved through consent rather than formal hearings. The committee emphasized the importance of maintaining transparency in the rate-making process, with all filings accessible to the public.

Overall, the meeting underscored the committee's commitment to improving the insurance landscape in Georgia through legislative action, enhanced staffing, and a focus on consumer protection. The next steps will involve further analysis of the impacts of tort reform and ongoing efforts to streamline the rate review process.