On March 31, 2022, Commissioner John F. King issued Directive 22-EX-3 to advise that unlicensed persons or entities selling, soliciting, or negotiating insurance in Georgia prior to obtaining an insurance license in this state is not permitted under O.C.G.A §33-23-4(a)(1) (the Code), and therefore subject to a fine. It appears that the Directive is intended to focus on sales of policies for a Risk Retention Group without a license.
Beginning July 1, 2022, the Office of Commissioner of Insurance and Safety Fire will implement the below tiered fine schedule for any person or entity selling, soliciting, or negotiating insurance in Georgia without a license or charter (for Risk Retention Groups) in violation of the Code.
Number of Policies Fine Amount
1st Policy $100
2nd Policy $500
3rd Policy $1,000
4th Policy $1,500
5th Policy $2,000
6th Policy up $5,000 each
Written by Tony Roehl for the Federation of Regulatory Counsel (FORC).