Georgia Officials Address Insurance Companies and Claims Technology Issues

In a recent meeting of the Blue-Ribbon Committee on Insurance Rates in Georgia, discussions centered on holding insurance companies accountable and addressing consumer concerns regarding claims and underwriting practices. A key highlight was the emphasis on the need for transparency and fairness in how insurance companies handle claims, particularly in light of ongoing issues with "no pay" claims.

Committee members expressed a desire for a comparative analysis of Georgia's defense cost containment against other states, although it was noted that such data is included in insurance filings. The conversation also touched on the challenges faced by constituents, particularly regarding the use of technology like drones and satellites in the underwriting process. These methods have raised concerns about accuracy, with reports of incorrect assessments leading to nonrenewals for homeowners.

The committee is currently conducting market conduct examinations on several major carriers to investigate these issues further. There is a push for potential legislative action to address the problems stemming from the use of technology in insurance assessments, as well as a call for clearer guidelines on how inquiries are treated in relation to claims.

As the meeting concluded, the committee acknowledged the importance of these discussions and the need for ongoing dialogue to ensure that homeowners are treated fairly by insurers. The next meeting is anticipated to continue these critical conversations, with a focus on developing actionable solutions for the challenges faced by Georgia's insurance market.