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Senate committee advances HB1274 with auto-insurance rebate and surprise-ambulance protections
Summary
The Georgia Senate Insurance Committee advanced HB1274 after adopting amendments that extended its look-back period for an auto-insurer rebate and added technical corrections; the omnibus bill also includes an ambulance surprise-billing provision and requirements to help policyholders find unclaimed life-insurance funds.
Representative Reeves presented HB1274 to the Senate Insurance Committee, telling members the substitute packages several provisions intended to make insurance more affordable. "Auto insurance, we got 9,100,000 drivers. This will provide some relief to them," Reeves said, describing a Florida-style rebate structure with a 5-year lookback and a 6% threshold and an effective date of Jan. 1, 2028.
The bill would require insurers to return excess profits to customers when anticipated profit line items exceed set thresholds for consecutive years, require rebates to be paid within 60 days of a final order by the…
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