GA - GAC
Rules and Regulations of the State of Georgia
Terms and Conditions of Agreement for Access to Rules and Regulations of the State of Georgia Website

(Note: certain features of this site have been disabled for the general public to prevent digital piracy. If you are an entitled government entity pursuant the Georgia Administrative Procedures Act, O.C.G.A.§ 50-13-7(d) contact the State of Georgia's Administrative Procedures Division at 678-364-3785 to enable these features for your location.)

To access this website, you must agree to the following:

These terms of use are a contract between you and/or your employer (if any), and Lawriter, LLC.

You agree not to use any web crawler, scraper, or other robot or automated program or device to obtain data from the website.

You agree that you will not sell or license anything that you download, print, or copy from this website.

THIS WEBSITE AND ITS CONTENT ARE PROVIDED "AS IS." THE STATE OF GEORGIA AND LAWRITER EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT AND ARE NOT LIABLE TO ANY PERSON FOR ANY ERRORS IN INACCURACIES CONTAINED IN THIS WEBSITE.

By accessing and/or using this website, you agree to the terms and conditions above. If you do not agree to the terms and conditions above, you must cease accessing and/or using this website and destroy all material obtained from this website without your agreement.

If you accept these terms enter the information below and click “I AGREE”.

Subject 120-2-37 GEORGIA WORKER'S COMPENSATION INSURANCE RATE FILINGS

Rule 120-2-37-.01 Authority

This Regulation is made and promulgated by the Insurance Commissioner pursuant to the authority set forth in O.C.G.A. Sections 33-2-9 and 33-9-21.

Rule 120-2-37-.02 Purpose

The purpose of this Regulation is to require individual rate filings for the voluntary market by workers' compensation insurers, thus establishing competitive rates for purchasers of workers' compensation insurance in the State of Georgia.

Rule 120-2-37-.03 Applicability

This Regulation shall apply to all insurers authorized to transact workers' compensation insurance in the State of Georgia.

Rule 120-2-37-.04 Definitions

(1) "Authorized rating organization" means a rating organization licensed in accordance with O.C.G.A. Chapter 33-9.
(2) "Authorized statistical agent" means the statistical agent authorized in Rule 120-2-36-.05 of the Rules and Regulations of the Georgia Insurance Department.
(3) "Commissioner" means the Commissioner of Insurance of the State of Georgia.
(4) "Department" means the Georgia Insurance Department.

Rule 120-2-37-.05 Individual Rate Filings

(1) After the effective date of this Regulation and except as otherwise otherwise in Rule 120-2-36-.08 of the Rules and Regulations of the Department, every insurer desiring to revise the premium rates it charges for workers' compensation insurance coverage in this State shall file such insurer's own individual rate filing with the Commissioner. Such insurer shall simultaneously file a copy of such filing with the authorized rating organization of which the insurer is a member or subscriber.
(2) Premium rate for each individual rate filing shall be developed and established based upon each individual insurer's experience in the State of Georgia to the extent such experience is actuarially credible. Where the experience of an insurer is less than fully credible, such experience may be credibility-weighted against the latest corresponding experience as filed with the Department by an authorized rating organization. The Commissioner may make the determination as to the credibility of the material contained in such a filing or filings.
(3) With each individual rate filing, the individual insurer shall include the loss ratios, reserves, reserve development information, expenses including commissions paid and dividends paid, investment income, pure premium data adjusted for loss development and loss trending, profits and all other data and information used by that insurer for formulating its workers' compensation premium rates contained in the individual rate filing.

Rule 120-2-37-.06 Classification Plan

The Classification Plan, including codes of an authorized rating organization which is the current and latest Classification Plan on file with the Commissioner, shall be followed by all insurers when transacting workers' compensation insurance in the State of Georgia.

Rule 120-2-37-.07 Reference Filings

An individual insurer may adopt, by reference, in its own individual rate filing, Experience Rating Plans, Retrospective Rating Plans, Rating Factors and Premium Discount Plans filed with the Commissioner by an authorized rating organization.

Rule 120-2-37-.08 Severability

If any provision of this Regulation, or the application thereof to any person or circumstance, is held invalid by a court of competent jurisdiction, the remainder of the Regulation or the applicability of such provision to other persons or circumstances shall not be affected.

Rule 120-2-37-.09 Effective Date

This Regulation shall become effective January 1, 1984.