Georgia § 33-3-21 - 2. Analysis of adequacy of loss and loss adjustment expense reserves when reserves outside standard range.
Full text of Georgia Official Code of Georgia Annotated § 33-3-21 — 2. Analysis of adequacy of loss and loss adjustment expense reserves when reserves outside standard range., with citation guidance and answers to common questions.
§ 33-3-21. 2. Analysis of adequacy of loss and loss adjustment expense reserves when reserves outside standard range.
As used in this Code section, the term "qualified independent loss reserve specialist" means a person who is not an employee, principal, director, or indirect owner of the insurer and either is a member of the casualty actuarial society or possesses such other experience acceptable to the Commissioner to assure a professional opinion on the adequacy of the loss and loss adjustment expense reserves of the insurer. Every property and casualty insurer required to file an annual report with the Commissioner which has not filed a statement of opinion relating to loss and loss adjustment expense reserves in connection with its last annual statement on file with the department shall engage, whenever the insurer's loss and loss adjustment expense reserves are outside the standard or average range as designated by the Commissioner and based upon reliable and credible current information, a qualified independent loss reserve specialist to analyze the adequacy of such reserves and file a report with the Commissioner on a date to be specified by the Commissioner. (Code 1981, § 33-3-21.2 , enacted by Ga. L. 1989, p. 674, § 1.) Law reviews. - For note on 1989 enactment of this Code section, see 6 Ga. St. U.L. Rev. 261 (1989).
Frequently Asked Questions About Georgia § 33-3-21
What does Official Code of Georgia Annotated § 33-3-21 cover?
Section 33-3-21 ("2. Analysis of adequacy of loss and loss adjustment expense reserves when reserves outside standard range.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 33-3-21?
A common citation format is "Official Code of Georgia Annotated § 33-3-21" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 33-3-21 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.