How many days prior to the indicated effective date must an insurer file any rate with the commissioner?

The requirement for an insurer to file any rate with the commissioner 45 days prior to the indicated effective date reflects the regulatory framework established in Georgia. This advance notice period is designed to ensure that there is ample time for the commissioner to review the proposed rates for compliance with applicable statutes and regulations.

The rationale behind this timeline is to promote transparency and give regulatory bodies the opportunity to assess whether the proposed rates are adequate, not discriminatory, and justifiable based on the risk involved. This 45-day period allows stakeholders, including consumers and other interested parties, to become aware of potential rate changes before they take effect, promoting accountability in pricing practices.

This requirement helps maintain an orderly and fair insurance market by preventing abrupt changes in rates that could adversely affect policyholders without their knowledge.