State RegulationsGA specificDifficulty 2/5
A Georgia resident advertises an insurer's life policies, quotes rates to consumers, and collects completed applications and initial premiums. Under O.C.G.A. § 33-1-2, this person is:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under O.C.G.A. § 33-1-2, transacting the business of insurance includes soliciting, negotiating, and effecting contracts of insurance as well as related transactions. The resident's solicitation, quoting, and collection of premiums and applications all fall within that definition, so the activity is regulated even though no policy has yet been issued.
Why the other options are wrong
- A) Advertising tied to solicitation is part of transacting insurance, not outside its reach.
- C) Collecting premiums and applications is not mere clerical work; it goes to the heart of the insurance transaction.
- D) No issued policy is required; solicitation and negotiation alone constitute transacting.
Memory hook
Solicit, quote, collect — that's transacting insurance in Georgia.