Georgia Laws, Rules, and Regulations Pertinent to Life, Accident, and Sickness Insurance
What does the Georgia Life and Health Insurance Guaranty Association do when a member insurer fails?
Answer and explanation
Answer: C. Section 33-38-7 sets the association's coverage and its caps, which is protection of policyholder benefits within limits. Marshalling assets and liquidating the estate is the receiver's role, and neither reinstatement nor transferring a certificate of authority is a function the section gives the association.Source: O.C.G.A. § 33-38-7 — 33-38-7, Role of the association
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