Which legislation governs surplus lines insurance in Georgia?

The legislation that governs surplus lines insurance in Georgia is known as the Georgia Surplus Lines Law. This law specifically outlines the requirements and regulations for surplus lines insurance, which refers to insurance coverage that is not available from licensed insurers in the state.

The Georgia Surplus Lines Law establishes the framework for how surplus lines brokers must operate, including the necessary licensing, reporting, and compliance protocols. This legislation is essential for ensuring that surplus lines insurance practices are carried out in a regulated manner, protecting consumers and the market.

While the Georgia Insurance Code contains a broad range of laws pertaining to all types of insurance in Georgia, and other options refer to different aspects of insurance law or consumer protection, it is the Georgia Surplus Lines Law that specifically addresses the unique characteristics and regulatory needs of surplus lines insurance within the state. This targeted legislation is what makes it the governing authority in this area.