Deposits, Fees and Premium Taxes

Deposits

All insurers must deposit $100,000 for the first line of business and $25,000 for each additional line of business, up to a maximum of $200,000, for the protection of all policyholders [O.C.G.A. §33-3-5]. Foreign insurers can submit a Certificate of Deposit from their domiciliary state to satisfy this requirement.

All foreign insurers must also deposit $25,000 for the protection of Georgia policyholders and others in Georgia [O.C.G.A. §33-3-9(a)]; foreign non-life insurers must also deposit "such amount as the Commissioner shall require" [O.C.G.A. §33-3-9(b)], but the combined amount under both O.C.G.A. §33-3-9(a) and –(b) cannot exceed $100,000.

Workers compensation insurers must make a $50,000 deposit in addition to the above requirements [O.C.G.A. §34-9-129].

When an insurer is found to be in adverse financial condition, a "reasonable and necessary" additional deposit may be required [O.C.G.A. §33-3-10].

O.C.G.A. §33-8-1. Fees and charges generally.

The Commissioner is authorized to assess and collect in advance, and persons so assessed shall pay in advance to the Commissioner, fees and charges under this title as follows:

1. Unless specifically provided otherwise, for each certificate of authority, original license, renewal of a certificate of authority, or renewal of a license:
(A) Agent, subagent, counselor, adjuster, or principal office of an insurance agency (new license)		$ 50.00
(B) Agent, subagent, counselor, adjuster, or principal office of an insurance agency (license renewal)		50.00
(B.1) Each branch office of an insurance agency other than the principal office (new license)		10.00
(B.2) Each branch office of an insurance agency other than the principal office (license renewal)		10.00
(C) Agent certificate of authority for subagent		5.00
(D) Automobile self-insurance		100.00
(E) Captive insurance company:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(F) Continuing care provider		75.00
(G) Duplicate certificate of authority, license, or permit		25.00
(H) Farmers mutual fire insurance company:	Original license or certificate	500.00
	Renewal license or certificate	25.00
(I) Fraternal benefit society:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(I.1) Health care corporations:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(J) Health maintenance organization:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(K) Insurer certificate of authority for agent		10.00
(L) Life, accident, and sickness insurance company:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(M) Managing general agent:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(N) Multiple employer self-insurance plan		400.00
(O) Premium finance company (full power)		500.00
(P) Premium finance company (limited power)		300.00
(Q) Reserved
(R) Prepaid legal services plans		500.00
(S) Private review agents:	Original license or certificate	1,000.00
	Renewal license or certificate	500.00
(T) Property and casualty insurance company:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(U) Nonprofit organizations (medical service or hospital service corporation):
	Original license or certificate	600.00
	Renewal license or certificate	500.00
(V) Rating or advisory organization		100.00
(W) Reinsurance intermediary		50.00
(X) Surplus lines broker		300.00
(Y) Third-party administrators:	Original license or certificate	500.00
	Renewal license or certificate	400.00
(Z) Title insurance company:	Original license or certificate	600.00
	Renewal license or certificate	500.00
(AA) Utilization review agent		200.00
(BB) Each vending machine licensed under Chapter 23 of this title		25.00
(CC) Workers' compensation group self-insurance fund:	Original license or certificate	600.00
	Renewal license or certificate	500.00

2. Bond or security deposits:
(A) Not over $5,000.00	4.00
(B) Not over $10,000.00	8.00
(C) Not over $25,000.00	15.00
(D) Not over $50,000.00	25.00
(E) Over $50,000.00 but less than $100,000.00	40.00
(F) $100,000.00 or more	50.00
3. Examination fee for agent's, subagent's, counselor's, or adjuster's license	25.00
4. Application fee for agent's, subagent's, adjuster's, or counselor's license	15.00
5. Status letter for agent, subagent, counselor, or adjuster	10.00
6. For the following filings:
(A) Bylaws amendments	25.00
(B) Certification of annual statement	10.00
(C) Certification of examination report	10.00
(D) Certification of other documents	5.00
(E) Charter amendments	25.00
(F) Education course provider (original filing)	100.00
(G) Education course provider (renewal filing)	50.00
(H) Education course or program	10.00
(I) Education course instructor	10.00
(J) Financial statement	50.00
(K) Form A	5,000.00
(L) Form A exemption	1,000.00
(M) Form B	500.00
(N) Form B exemption	100.00
(O) Individual risk rate or form	10.00
(P) Insurance policy form	25.00
(Q) Insurance rate filing	75.00
(R) Listing of licensed agents, subagents, counselors, or adjusters	1,000.00
(S) Listing of insurer's certificates of authority filed for agents	5.00
(T) Listing of agent's certificates of authority filed for subagents	5.00
(U) List of licensees or permit or certificate holders other than agents, subagents, counselors, or adjusters	40.00
(V) License, permit, or certificate of authority amendment	25.00
(W) Late fee for filings	15.00
(X) Registration of risk retention groups	100.00
(Y) Registration of purchasing groups	100.00
(Z) Filing of other documents	50.00
(AA) Amendment of filings	25.00
(BB) Service of process	15.00
7. For refiling of corrected documents under this Code section, provided that fees were paid with original filing	No charge

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O.C.G.A. §33-8-4. Amount and method of computing tax on insurance premiums generally; exclusion of annuity considerations.

(a) All foreign, alien, and domestic insurance companies doing business in this state shall pay a tax of 2 1/4 percent upon the gross direct premiums received by them on and after July 1, 1955. The tax shall be levied upon persons, property, or risks in Georgia, from January 1 to December 31, both inclusive, of each year without regard to business ceded to or assumed from other companies. The tax shall be imposed upon gross premiums received from direct writings without any deductions allowed for premium abatements of any kind or character or for reinsurance or for cash surrender values paid, or for losses or expenses of any kind; provided, however, deductions shall be allowed for premiums returned on change of rate or canceled policies; provided, further, that deductions may be permitted for return premiums or assessments, including all policy dividends, refunds, or other similar returns paid or credited to policyholders and not reapplied as premium for additional or extended life insurance. The term "gross direct premiums" shall not include annuity considerations.

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O.C.G.A. §33-8-8.2. County and municipal corporation taxes on other than life insurance companies.

(a) Counties and municipal corporations are authorized to levy tax at a rate not to exceed 2.5 percent upon the gross direct premiums of all foreign, alien, and domestic insurance companies doing business in this state other than life insurance companies. The tax shall be in addition to the taxes levied by Code Section 33-8-4, and it may be levied upon the gross direct premiums received by such companies during the preceding calendar year. The tax shall be levied upon premiums derived from policies insuring persons, property, or risks in Georgia from January 1 to December 31, both inclusive, of each year without regard to business ceded to or assumed from other companies. The tax shall be imposed upon gross premiums received during the preceding calendar year from direct writing without any deductions allowed from premium abatement of any kind or character or for reinsurance or for losses or expenses of any kind; provided, however, deductions shall be allowed for premiums returned or change of rate or canceled policies; provided, further, that deductions shall be permitted for returned premiums or assessments, including all policy dividends, refunds, or other similar returns paid or credited to policyholders.