"Surprise Billing Consumer Protection Act"; insurance coverage for certain out-of-network ambulance transportation service; provide
What changed between versions
Removed the 'Georgia Insurance Fairness Act' title and replaced it with a focus on excess profit regulation and ambulance coverage.
Deleted all provisions related to storm damage mitigation, matching grants, and eligibility for mitigation contractors.
Removed sections regarding increased fees for driving without insurance and penalties for excluded drivers.
Added new definitions for 'Anticipated underwriting profit', 'Excess profit', 'Cash refund', and 'Credit refund' to standardize how insurer profits are calculated.
Established a requirement for insurers to submit detailed annual data on premiums, losses, and expenses to the Department of Insurance by July 1, 2028.
Reordered the list of bill purposes to prioritize excess profit regulation and ambulance coverage over the original broad list of consumer protections.
