Nothing contained in this chapter shall be deemed to prohibit an insurer and its insured from contracting to use a rate on a specific risk or risks which is in excess of or lower than that otherwise applicable, provided that the contract and rate deviation by consenting parties have been filed with the Commissioner prior to the use of the rate in accordance with the procedures, conditions, and limitations as may be established by the Commissioner; and provided, further, that, if the resulting premium exceeds $1,000.00, a binder of coverage may be issued and the contract and rate deviation shall be filed within 20 days after the issuance of the binder. Such contract and rate deviation shall be subject to challenge by the Commissioner for a period of ten days after filing. If such challenge is upheld, the insurer shall be required to use its regular filed rates for the first 30 days of coverage in accordance with the requirements of applicable law. If there is no challenge or if a challenge is not upheld, the contract and rate deviation agreed upon may be used from and after the effective date of the binder.
History. Code 1933, § 56-522.2, enacted by Ga. L. 1976, p. 691, § 1; Ga. L. 1985, p. 994, § 1.
Structure Georgia Code
Chapter 9 - Regulation of Rates, Underwriting Rules, and Related Organizations
§ 33-9-1. Purpose and Construction of Chapter
§ 33-9-3. Application of Chapter
§ 33-9-4. Standards Applicable to Making and Use of Rates
§ 33-9-5. Authorized Joint Actions by Insurers Generally
§ 33-9-8. Agreements to Share High-Risk Applicants; Approval of Rates
§ 33-9-9. Use of Rating Systems, Underwriting Rules, or Forms of Rating or Advisory Organizations
§ 33-9-10. Conduct of Operations by Organizations Engaging in Joint Underwriting or Reinsurance
§ 33-9-12. Requirement of License for Rating Organization; Application; Fee
§ 33-9-13. Evidence to Be Submitted by Rating Organization for License
§ 33-9-15. Annual License Fee for Rating Organizations
§ 33-9-16. Adoption by Rating Organizations of Rules Governing Eligibility for Membership Generally
§ 33-9-21.1. Filing and Maintenance of Information Relating to Certain Casualty Insurance
§ 33-9-21.2. Petition for Hearing by Aggrieved Insurer
§ 33-9-24. Examination of Officers, Managers, Agents, and Employees of Organizations and Insurers
§ 33-9-25. Payment of Costs of Examinations
§ 33-9-28.1. Assessment of Investigation Costs Against Parties
§ 33-9-33. Payment of Dividends, Savings, or Unabsorbed Premium Deposits by Insurers
§ 33-9-35. Withholding of Information; False or Misleading Information
§ 33-9-36. Unauthorized Premiums; Unlawful Inducements
§ 33-9-37. Liability of Insurer Conspiring to Fix Insurance Rates Unauthorized by Chapter
§ 33-9-40.3. Employers to Provide Work Based Learning Opportunities for Students Age 16 and Older