Georgia Insurance Commissioner-elect lays out plan to tackle rising premiums – WSB-TV

Georgia Insurance Commissioner-elect lays out plan to tackle rising premiums  WSB-TV

Incoming Georgia Insurance Commissioner Keisha Sean Waites will prioritize rate scrutiny and increased market competition. ATLANTA — Georgia Insurance Commissioner-elect Keisha Sean Waites says lowering insurance costs and strengthening consumer protections will be among her top priorities when she takes office. In an exclusive interview with Channel 2 Action News, Waites said she wants to return the Insurance Commissioner’s Office to what she described as its core mission of advocating for Georgia consumers. “The Insurance Commissioner really is a consumer protection advocacy role,” Waites said. “We’re charged with regulating and making decisions as it relates to rate hikes.” Waites said the commissioner cannot simply freeze insurance rates but can scrutinize proposed increases and delay or deny them when companies don’t provide actuarial data to justify the higher prices.

She also pointed to the office’s ability to investigate complaints and penalize insurers when customers experience problems with claims. “We have the authority to fine and penalize insurance companies,” Waites said. Waites said soaring auto and homeowners insurance premiums were among the biggest concerns she heard from Georgians during the campaign. “There’s not anybody, I think, that lives in the state of Georgia that has not been impacted by the exorbitant cost of automobile insurance, homeowners premiums and things of that nature,” she said. Waites said she wants to increase competition among