Ga. Comp. R. & Regs. R. 120-2-18-.06 - Insurers Financial Reports
(1) Each insurer licensed to transact
insurance in this State shall file on or before March 1 of each year a
financial report of its business and affairs as of December 31 of the calendar
year then next preceding. Such report shall be filed on the appropriate Blanks
as follows: Fire and Casualty Blank; Fraternal Orders Blank; Life and Accident
and Health Blank; Health Blank; Hospital, Medical and Dental Service or
Indemnity Corporations Blank; Title Insurance Blank; Separate Accounts Blank;
and Variable Life Separate Accounts Blank. The financial reports required by
this Rule shall be prepared in accordance with the National Association of
Insurance Commissioners (NAIC) Annual Statement Instructions and the NAIC
Accounting Practices and Procedures Manual which are incorporated herein by
reference. Additionally, all materials required to be filed with the Department
must also be submitted to the NAIC pursuant to O.C.G.A. ยง
33-3-21.3 in such format as
prescribed by the NAIC. Such insurer shall compile and report all information
or data necessary to truthfully and fully complete the appropriate Blank listed
above, including all interrogatories, which are applicable to that particular
insurer, which best reflect the types or kinds of insurance that insurer
transacts unless it is unequivocally clear that such data or information does
not apply to such insurer. Additionally, each insurer shall supply, insert or
attach to its annual report all data, information and answers required or
suggested by any note, footnote or lack of space in the Blank. After supplying
all answers, information or data necessary or proper to complete such Blank in
every detail, such insurer shall cause its officers specified in such Blank to
subscribe to the oath appearing on page one of such Blank.
(2) Each insurer licensed to transact
insurance in this State shall file quarterly financial reports on the
applicable NAIC Blank. Such reports of its business and affairs shall be as of
March 31, June 30 and September 30 and shall be due May 15, August 15 and
November 15 respectively.
(3)
Privately printed or commercially printed Blanks may be submitted to the Office
of Commissioner of Insurance to satisfy the requirements of this Rule as long
as the Blank submitted complies in all respects with the appropriate Blank or
Blanks that insurer must file.
(4)
The Commissioner may by Order obtain monthly financial reports from an insurer.
Such financial information shall be truthfully and completely reported in such
form as may be requested by the Commissioner for the proper supervision and
monitoring of the financial condition of an insurer.
(5) In addition to the reports otherwise
required by this Regulation Chapter, each insurer licensed to transact business
in this State must electronically file its annual report and such other reports
as prescribed by the Commissioner with the NAIC. Such electronic filings must
conform to the format and instructions promulgated by the NAIC.
Notes
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