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Georgia insurance officials, academics highlight rate cuts and market strain as committee prepares report
Summary
At a Gwinnett hearing, the Georgia Insurance Commission’s office announced several insurers’ rate cuts while University of Georgia and industry witnesses described persistent underwriting losses, litigation-driven claim costs and carriers shrinking capacity in Georgia.
Gwinnett County — The Georgia Department of Insurance and outside experts told lawmakers on the House Insurance Rate Study Committee that recent insurer filings will reduce some drivers’ premiums, even as state‑level underwriting results and litigation trends continue to squeeze carriers and limit coverage choices.
Bryce Rawson, director of legislative affairs for the insurance commissioner, said Liberty Mutual and Safeco filed rate decreases of about 5% for Georgia drivers, and noted a recent State Farm reduction “of about 10% over the course of the year.” Rawson credited work to combat fraud and the tort‑reform measures enacted by the General Assembly for helping produce those decreases.
“If anybody has questions about this topic, I’d be more than…
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