Georgia Counters Captive Bill Criticism
Even though it was retracted, an insurer groups criticism directed at the Georgia Department of Insurance for its move to include workers compensation captives in the state guarantee fund has angered the states regulator.
The Property Casualty Insurers Association of America issued a statement last week criticizing H.B. 1076, sponsored by Rep. Ben Harbin. “This bills misguided attempt to shore up a few financially tenuous captives does a disservice both to the captives and the states admitted insurers, who will have to pay their claims if they go insolvent,” said Robert Herlong, Southeast regional manager for PCI, in a statement.
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