SB 585: Rates, Underwriting, and Related Organizations; certain disclosures in property and casualty insurance rate filings concerning climate related risk, catastrophe modeling, and reinsurance costs; require

Georgia law currently does not require insurers to disclose how they use catastrophe and natural disaster risk models when setting home and property insurance rates. This bill adds two new sections to the state's insurance code (O.C.G.A. Title 33, Chapter 9) addressing that gap. Starting January 30, 2027, insurers would have to annually submit ZIP code level data on nonrenewals, cancellations, claims, and premiums to the Department of Insurance, along with descriptions of any catastrophe or natural disaster risk models they use. The department would build a public database of market share data. The Insurance Commissioner would be required to set actuarially appropriate rate reductions for policyholders who take mitigation steps, such as building hardening or community wildfire fuel reduction. Insurers would also have to post mitigation discount information online, give policyholders written explanations of their risk scores, and allow appeals of inaccurate scores. The law would take effect January 1, 2027 and apply to rate filings submitted on or after that date.

• Requires property and casualty insurers to submit annual ZIP code level data on nonrenewals, cancellations, claims, losses, and premiums to the Department of Insurance starting January 30, 2027.
• Requires insurers using catastrophe or natural disaster risk models to disclose how those models affect rates and to justify rating factors with actuarial support, though the models themselves stay protected as trade secrets.
• Requires the Department of Insurance to build a public database showing market share data submitted by insurers.
• Requires the Commissioner to set an actuarially appropriate rate reduction for homeowners and property insurance policyholders who complete property or community level mitigation actions, such as building hardening or defensible space.
• Requires insurers to post mitigation discount information on their websites and give policyholders annual written notices explaining their natural disaster risk scores.
• Creates an appeal process letting policyholders challenge an inaccurate risk score or mitigation discount, with insurers required to respond in writing within 30 days.

Property and casualty insurance companies operating in Georgia, homeowners and other residential property policyholders, applicants for homeowners insurance, and the Georgia Department of Insurance and Insurance Commissioner, who would gain new data collection, database, and rulemaking duties.

Homeowners could see clearer explanations of why their premiums or risk scores are what they are, access mitigation discounts more easily, and appeal scores they believe are wrong. Insurers would face new reporting duties and could be required to lower rates for policyholders who take steps like building hardening.

• New Code Section 33-9-45 requires insurers to submit annual ZIP code level data (nonrenewals, cancellations, claims, premiums) to the Department of Insurance starting January 30, 2027.
• Section 33-9-45(c)(3) requires disclosure of any natural disaster risk model or catastrophe model used, its impact on rates, and actuarial justification for rating factors, though the model itself is treated as a trade secret exempt from disclosure.
• Section 33-9-45(d) requires the department to create a public database showing market share data for policyholders to view.
• New Code Section 33-9-46(b) requires the Commissioner to set an actuarially appropriate rate reduction for policyholders who demonstrate property or community level mitigation actions.
• Section 33-9-46(c) requires insurers to post mitigation discount and incentive information on their public websites.
• Section 33-9-46(d) requires an annual written notice to policyholders explaining their natural disaster risk score, its range, and what influenced it.
• Section 33-9-46(e) creates an appeal process for inaccurate risk scores, requiring insurers to acknowledge appeals within 10 days and respond within 30 days.
• Section 2 sets the effective date as January 1, 2027, applying to property insurance rate filings submitted on or after that date.

1. 2026-02-26Senate Read and Referred (Senado)
2. 2026-02-25Senate Hopper (Senado)

• Nabilah Islam Parkes (D, SD-007)Patrocinador principal
• Nan Orrock (D, SD-036)
• Harold Jones (D, SD-022)
• Kenya Wicks (D, SD-034)
• Nikki Merritt (D, SD-009)
• Kim Jackson (D, SD-041)
• Elena Parent (D, SD-044)
• Gail Davenport (D, SD-017)
• RaShaun Kemp (D, SD-038)
• Randal Mangham (D, SD-055)

• property insurance rates
• climate risk disclosure
• homeowners insurance
• insurance regulation
• natural disaster mitigation