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Committee hears expansive insurance-reform bill targeting fraud, claims processing, fortified homes and penalties
Summary
HB1344, the largest bill from the insurance-rate study committee, would increase enforcement tools and fines, tighten claims deadlines for catastrophes, implement a fortified homes program subject to appropriations, close an "excluded driver" loophole for uninsured motorists, and consolidate fraud provisions including reclassifying certain paid solicitation ('runners') as felonies; the committee held the proposal as a hearing only.
Representative Jim Reeves presented House Bill 13-44 as a comprehensive insurance-reform package developed by the insurance rate study committee. Reeves said the bill aims to lower premiums, speed claims processing, strengthen fraud enforcement, expand tools for the insurance commissioner, and encourage insurer headquarters and market entry in Georgia.
Key elements Reeves highlighted include: an increase in about 40 existing fines across the insurance code and stronger enforcement against staged-accident and solicitation schemes; tightened claims-processing deadlines…
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