Georgia House proposes committee to study state’s rising insurance rates

And despite the rising premiums, the resolution goes on, “insurance companies continue to report record profits, raising concerns about the fairness and transparency of pricing models and the industry’s accountability to policyholders.”

The study committee would consist of 11 members — seven lawmakers and four experts — to study the “conditions, needs, issues and problems” regarding the insurance industry’s rate-setting practices, profit margins and compliance to ensure “consumers are not being subjected to unjustified rate hikes.”

The committee will then produce a report with any recommended action or legislation.

While House Speaker Jon Burns, a Republican from Newington, will be responsible for appointing members to the committee, he said he would work with House Democrats to select the most appropriate people to appoint.

“It’ll be based on individual merits, but we’ll also look for a balance between our parties,” he said.

But House Democratic Whip Sam Park said he was confused about the intentions of the study committee.

“If the speaker is saying we have to have yet another study on insurance, then again, what was all of this for?” he asked.

Kemp’s priority legislation, Senate Bill 68, would limit the kinds of lawsuits that plaintiffs can bring. In proposing the bill, he said it is a necessary measure to protect businesses, including hospitals, from “frivolous” lawsuits that cost millions of dollars to settle.

State Rep. Stacey Evans, a Democrat from Atlanta who opposed the bill, was disappointed in the vote Thursday, but said she is willing to work with Republicans to study the insurance market.

“I have no choice but to be hopeful,” about the insurance study committee, she said. “We do need to take a look at insurance reform, but if insurance was the issue, why didn’t we look there first? That doesn’t make any sense to me.”