Georgia Laws, Rules, and Regulations Pertinent to Life, Accident, and Sickness Insurance
How does Georgia define a mutual insurer?
Answer and explanation
Answer: D. Section 33-14-2(1) defines a mutual insurer as an incorporated insurer without capital stock or shares which is owned and governed by its policyholders. Incorporation is part of the definition, ownership rests with policyholders rather than agents, and the form is private rather than state owned.Source: O.C.G.A. § 33-14-2 — 33-14-2(1), Mutual insurer
More georgia laws, rules, and regulations pertinent to life, accident, and sickness insurance questions
- Which conviction is a ground for license action under section 33-23-21?
- Which enumerated practice concerns an insurer that does not try to settle when liability is clear?
- Which forms of communication does section 33-6-4(1) name?
- Which of these appears in section 33-23-21 even though it does not concern insurance conduct?
- Which of these does section 33-6-4(2) expressly cover?
- Which relationships does Georgia's definition of controlled business reach?
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