EXTENSION OF RENEWAL PERIODS FOR CAPTIVE INSURERS AND RISK RETENTION GROUPS DUE TO TECHNICAL ISUES WITH THE GIMS PLATFORM

Office of Commissioner of Insurance and Safety Fire Protect | Enforce | Educate | Inform JOHN F. KING Commissioner of Insurance and Safety Fire Two Martin Luther King Jr. Drive West Tower, Suite 702 Atlanta, Georgia 30334 # BULLETIN 24-EX-3 TO: ALL CAPTIVES AND RISK RETENTION GROUPS FROM: JOHN F. KING INSURANCE AND SAFETY FIRE COMMISSIONER DATE: FEBRUARY 27, 2024 RE: EXTENSION OF RENEWAL PERIODS FOR CAPTIVE INSURERS AND RISK RETENTION GROUPS DUE TO TECHNICAL ISSUES WITH THE GIMS PLATFORM The Commissioner of Insurance identified technical issues with the GIMS platform that may have impeded the ability of certain captives and risk retention groups to complete their renewal processes in a timely manner. To address these challenges and ensure that all entities have sufficient time to fulfill their renewal obligations without being unfairly penalized, we are extending the renewal periods. Effective immediately, the renewal period for all captive insurers and risk retention groups is extended by 30 days. - Renewal Deadline Extension: The deadlines for renewal submissions, including all required documents and fees, are hereby extended by 30 days from the original due date of March 1, 2024. Such filing deadline is extended until April 1, 2024. - Applicability: This extension is granted to all captive insurers and risk retention groups facing the annual renewal or annual statement deadline of March 1, 2024. - No Penalties: No late fees or penalties will be assessed for renewals submitted within this extended period. Affected captive insurers and risk retention groups are encouraged to complete their renewal requirements, including the submission of all necessary documentation and fees, within this extended timeframe. We understand the inconvenience caused by these technical issues and are actively working to resolve all such issues promptly. We appreciate your understanding and cooperation as we work together to address these challenges. JOHN F. KING INSURANCE AND SAFETY FIRE COMMISSIONER STATE OF GEORGIA