Georgia and Alabama Enact New Insurance Laws Affecting Policyholders and Product Sales

New insurance-related laws will take effect in Georgia and Alabama on January 1, impacting policyholder protections and product regulations. Georgia's House Bill 511 establishes a catastrophe savings account to help homeowners save for disaster-related repairs and incentivizes higher deductibles to lower premiums, effective for tax years starting January 1, 2026. Senate Bill 35 mandates insurers to provide a 60-day notice before policy termination, enhancing policyholder response time to maintain or secure coverage. In Alabama, House Bill 445 enforces a ban on the sale of hemp products starting January 1, with law enforcement authorized to seize hemp products without a warrant from vendors violating the law. These regulatory changes reflect ongoing adjustments in insurance-related legislation and product control within these states.