State RegulationsGA specificDifficulty 1/5
Under Georgia law, an insurer is considered authorized to transact insurance in this state only when it has done what?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under O.C.G.A. § 33-3-2 through § 33-3-5, an authorized insurer is one that holds a valid certificate of authority issued by the Insurance Commissioner. Only authorized insurers may lawfully transact insurance business in Georgia, so the certificate of authority is the threshold requirement for every carrier writing in this state.
Why the other options are wrong
- A) Rate filing is a separate regulatory obligation and does not by itself authorize an insurer to transact business.
- C) Registering with the Secretary of State addresses corporate status, not authorization to transact insurance in Georgia.
- D) There is no general securities deposit with the State Treasurer that substitutes for a certificate of authority.
Memory hook
No certificate, no coverage — authorized means certified by the Commissioner.