Georgia Code, Title 33, Chapter 52 - Assumption Reinsurance Agreements

• § 33-52-1 - Applicability of Chapter
  (a) This chapter shall apply to any insurer authorized or doing business in this state which transfers or assumes the obligations or risks on...
• § 33-52-2 - Definitions
  As used in this chapter: (1) "Assuming insurer" means the insurer which acquires an insurance obligation or risk from the transferring insurer pursuant to...
• § 33-52-3 - Notice of Transfer; Contents and Form of Notice; Prior Approval of Commissioner
  (a)(1) The transferring insurer shall provide or cause to be provided to each policyholder by first-class mail, addressed to the policyholder's last known address...
• § 33-52-4 - Rejection of Transaction by Policyholders; Receipt of Notice; Transfers Involving Companies Deemed to Be in Hazardous Condition
  (a) Every policyholder shall have the right to reject the transfer and novation of his or her contract of insurance. Policyholders electing to reject...
• § 33-52-5 - Novation of Insurance Contract
  If a transfer takes place pursuant to Code Section 33-52-4, there shall be a novation of the contract of insurance subject to the assumption...
• § 33-52-6 - Approval or Disapproval by Commissioner
  (a) The Commissioner shall approve or disapprove the entire assumption reinsurance transaction. The following items shall be submitted to the Commissioner: (1) A detailed...

Last modified: October 14, 2016