07 LC
36 0634
Senate
Resolution 471
By:
Senators Rogers of the 21st, Hill of the 32nd and Pearson of the 51st
ADOPTED
SENATE
A
RESOLUTION
Creating
the Senate Study Committee on Property and Casualty Rate Regulation; and for
other purposes.
WHEREAS,
property and casualty rates are regulated in a variety of ways by the several
states; and
WHEREAS,
some states´ systems rely heavily on state controls over companies´
pricing decisions; and
WHEREAS,
other states allow competitive market forces to determine prices with a minimum
of government control; and
WHEREAS,
public policy should be designed to ensure that all lines of insurance are
available and that prices should not be excessive, inadequate, or unfairly
discriminatory; and
WHEREAS,
regulation by the state entails costs which must be borne by the taxpayers;
and
WHEREAS,
regulation also imposes compliance costs on the regulated industry which must
ultimately be borne by the consumers.
NOW,
THEREFORE, BE IT RESOLVED BY THE SENATE that there is created the Senate Study
Committee on Property and Casualty Rate Regulation to be composed of five
members of the Senate to be appointed by the President of the Senate. The
President of the Senate shall designate a member of the committee as chairperson
of the committee. The chairperson shall call all meetings of the
committee.
BE
IT FURTHER RESOLVED that the committee shall undertake a study of the
conditions, needs, and issues mentioned above or related thereto in addition to
a study of the various methods by which states regulate property and casualty
insurance rates, the effect that the changes made by other states in the method
of regulating property and casualty rates has had on the availability and
affordability of insurance, and what changes in the laws of this state may be
beneficial to Georgia consumers. The committee shall recommend any action or
legislation which the committee deems necessary or appropriate. The committee
may conduct such meetings at such places and at such times as it may deem
necessary or convenient to enable it to exercise fully and effectively its
powers, perform its duties, and accomplish the objectives and purposes of this
resolution. The members of the committee shall receive the allowances provided
for in Code Section 28-1-8 of the Official Code of Georgia Annotated. The
allowances authorized by this resolution shall not be received by any member of
the committee for more than five days unless additional days are authorized.
The funds necessary to carry out the provisions of this resolution shall come
from the funds appropriated to the Senate. In the event the committee makes a
report of its findings and recommendations, with suggestions for proposed
legislation, if any, such report shall be made on or before the convening of the
2008 session of the General Assembly, at which time the committee shall stand
abolished.