State Ins Commissioner Issues Recommendation to State Ins. Companies

Insurance and Safety Fire Commissioner John F. King is urging insurance companies doing business in the state of Georgia to review their financial holdings and operations to identify and divest from any investments and/or operations in Russia.

In a press release, Commissioner King said the recommendation is to ensure that no Georgia company is subsidizing, even indirectly, in Putin’s war.

Commissioner King’s Bulletin specifically called on all licensed insurance companies in Georgia to begin the process of “eliminating any financial support, via investments or business operations, for the Russian regime.”

King also offered insurers the assistance of the Commissioner’s office to help confirm any such divestments or business changes do not violate relevant laws, or unduly harm Georgia consumers or the competitiveness of Georgia’s insurance market.

Insurance companies can download a copy of King’s directive by going to the Georgia Insurance and Fire Safety Web site.