The Georgia Insurance and Safety Fire Commissioners office also regulates a large population of entities that are considered non-risk bearing. These companies include, but are not limited to: Third Party Administrators, Life Settlement Providers, Premium Finance Companies, Prepaid Legal Services Sponsors, Risk Retention and Purchasing Companies, Continuing Care Retirement Communities and Vehicle Protection Warrantors.
These entities, while they fall outside the traditional insurance company framework are similarly regulated. The Non-Traditional Section is responsible for licensing and compliance of these companies. This section has recovered in excess of $400,000 in fines and placed many companies that have done business without proper licensure on probation.
The Non-Traditional Companies represent a growing and constantly evolving community of niche market insurance entities and require constant and persistent oversight by the Department of Insurance.