HR659: HR659 House Study Committee on Insurance Market Reform; create

25 LC 62 0207S The House Committee on Insurance offers the following substitute to HR 659: A RESOLUTION Creating the House Study Committee on Insurance Market Reform; and for other purposes.1 WHEREAS, the insurance market plays a crucial role in providing individuals and2 businesses with financial protection against unforeseen risks and losses; and3 WHEREAS, premiums across multiple lines of insurance have been steadily increasing,4 placing an excessive and unsustainable burden on policyholders and businesses across this5 state; and6 WHEREAS, these increasing costs have resulted in financial hard ship for consumers,7 reducing access to essential coverage and undermining the affor dability of necessary8 protections; and9 WHEREAS, insurance companies continue to report record profits, raising concerns about10 the fairness and transparency of pricing models and the industr y's accountability to11 policyholders; and12 H. R. 659 (SUB) - 1 - 25 LC 62 0207S WHEREAS, excessive premium increases coupled with reduced coverage options create a13 destabilized market that disproportionately harms low-income and middle-income families,14 small businesses, and seniors on fixed incomes; and15 WHEREAS, the lack of competition in the insurance industry allows dominant providers to16 impose unreasonable cost increases with little recourse for con sumers, making regulatory17 scrutiny a necessity; and18 WHEREAS, it is imperative to conduct a thorough examination of the insurance industry's19 rate-setting practices, profit margins, claims processing, and regulatory compliance to ensure20 that consumers are not being subjected to unjustified rate hikes; and21 WHEREAS, understanding the impact of national and state insurance regulations, as well as22 examining successful models from other states, will enable the General Assembly to enact23 meaningful reforms to protect consumers from predatory pricing and ensure that the24 insurance market operates fairly and transparently.25 NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES:26 (1) Creation of House study committee. There is created the House Study Committee27 on Insurance Market Reform.28 (2) Members and officers. The committee shall be composed of eight members of the29 House of Representatives to be appointed by the Speaker of the House of30 Representatives. The Speaker shall also appoint three additional nonlegislative members31 with expertise or qualifications as determined by the Speaker. T h e S p e a k e r s h a l l32 designate two legislative members to serve as chairperson and v ice chairperson of the33 committee.34 H. R. 659 (SUB) - 2 - 25 LC 62 0207S (3) Powers and duties. The committee shall undertake a study of the conditions, needs,35 issues, and problems mentioned above or related thereto and recommend any action or36 legislation which the committee deems necessary or appropriate.37 (4) Meetings. The chairperson shall call all meetings of the committee. The committee38 may conduct such meetings at such places and at such times as it may deem necessary or39 convenient to enable it to exercise fully and effectively its powers, perform its duties, and40 accomplish the objectives and purposes of this resolution.41 (5) Allowances, expenses, and funding.42 (A) The legislative members of the committee shall receive the allowances provided43 for in Code Section 28-1-8 of the Official Code of Georgia Annotated. The allowances44 authorized by this resolution shall not be received by any member of the committee for45 more than five days unless additional days are authorized. Funds necessary to carry out46 the provisions of this resolution shall come from funds appropr iated to the House of47 Representatives.48 (B) Members of the committee who are state officials, other than legislative members,49 or state employees shall receive no compensation for their services on the committee,50 but they may be reimbursed for expenses incurred by them in the performance of their51 duties as members of the committee in the same manner as they a re reimbursed for52 expenses in their capacities as state officials or employees.53 (C) Members of the committee who are not legislators, state of ficials, or state54 employees shall receive a daily expense allowance in an amount the same as that55 specified in subsection (b) of Code Section 45-7-21 of the Offi cial Code of Georgia56 Annotated, as well as the mileage or transportation allowance a uthorized for state57 employees.58 (6) Report.59 (A) In the event the committee adopts any specific findings or recommendations that60 include suggestions for proposed legislation, the chairperson shall file a report of the61 H. R. 659 (SUB) - 3 - 25 LC 62 0207S same prior to the date of abolishment specified in this resolut ion, subject to62 subparagraph (C) of this paragraph.63 (B) In the event the committee adopts a report that does not i nclude suggestions for64 proposed legislation, the chairperson shall file the report, subject to subparagraph (C)65 of this paragraph.66 (C) No report shall be filed unless the same has been approved prior to the date of67 abolishment specified in this resolution by majority vote of a quorum of the committee.68 A report so approved shall be signed by the chairperson of the committee and filed with69 the Clerk of the House of Representatives.70 (D) In the absence of an approved report, the chairperson may file with the Clerk of the71 House of Representatives a copy of the minutes of the meetings of the committee in lieu72 thereof.73 (7) Abolishment. The committee shall stand abolished on December 1, 2025.74 H. R. 659 (SUB) - 4 -