Insurance consumers and companies will benefit from legislation passed during Georgia’s recently adjourned General Assembly. Senators and House members shut down at midnight April 4.
SB 276 allows consumers to select their preferred coverage level for uninsured motorist coverage. The bill also modernizes the private passenger automobile rate-setting process for insurers, allowing companies to set rates for elective coverages without the commissioner’s approval. Regulatory oversight will continue for mandatory minimum limits coverage.
“Insurance industry representatives are hopeful that Governor Perdue will understand the benefits to policyholders and companies and sign the legislation into law,” said Liz Reynolds, NAMIC's Southeast state affairs manager.
SB 348 bans collection of accident response fees by municipalities and counties. The bill is similar to others that have passed in Tennessee, Indiana, Missouri, and Pennsylvania. “With his signature on SB 348, Governor Perdue will bring Georgia into the vanguard of states taking action to ensure citizens are not subject to double taxation for core government services,” Reynolds emphasized.
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Posted: Monday, April 07, 2008 12:00:00 AM. Modified: Monday, April 07, 2008 2:56:03 PM.
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