CS/HB 1191: Captive Insurance
GENERAL BILL by Insurance and Banking Subcommittee ; Nelson
Captive Insurance; Revises terminology; prohibits industrial insured captive insurance company from insuring risks other than specified risks; authorizes licensure of industrial insured captive insurance companies to provide workers' compensation & employer's liability insurance in excess of specified amount; requires industrial insured captive insurance company to maintain certain amount of capital & surplus in order to continue to write excess workers' compensation; specifies certain duties or actions are responsibility of OIR; provides applicability of specified provisions to captive insurance companies & industrial insured captive insurance companies; requires pure captive insurance company to submit certain standards relating to risk management of controlled unaffiliated businesses to OIR for approval.
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Bill History
Date Chamber Action 3/1/2013 House • Filed
3/5/2013 House • Introduced -HJ 116
3/6/2013 House • Referred to Insurance and Banking Subcommittee; Government Operations Appropriations Subcommittee; Regulatory Affairs Committee -HJ 200
3/15/2013 House • PCS on Committee agenda-- Insurance and Banking Subcommittee, 03/19/13, 1:00 pm, 404 HOB
3/19/2013 House • CS by Insurance and Banking Subcommittee; YEAS 12 NAYS 0
3/25/2013 House • Pending review of CS under Rule 7.19(c)
• CS by Insurance and Banking Subcommittee read 1st time -HJ 344
3/26/2013 House • Original reference(s) removed: Government Operations Appropriations Subcommittee
• CS referred to Regulatory Affairs Committee -HJ 356
• Now in Regulatory Affairs Committee -HJ 356
4/2/2013 House • On Committee agenda-- Regulatory Affairs Committee, 04/04/13, 10:30 am, 404 HOB
4/4/2013 House • Favorable by- Regulatory Affairs Committee; YEAS 17 NAYS 0 -HJ 437
• Placed on Calendar -HJ 437
4/24/2013 House • Placed on Special Order Calendar, 04/26/13
4/26/2013 House • Read 2nd time -HJ 903
• Amendment(s) adopted (607153) -HJ 903
• Placed on 3rd reading
4/29/2013 House • Read 3rd time -HJ 935
• CS passed as amended; YEAS 116 NAYS 0 -HJ 935
4/29/2013 Senate • In Messages
• Received -SJ 789
• Referred to Banking and Insurance; Commerce and Tourism; Appropriations -SJ 789
• Withdrawn from Banking and Insurance; Commerce and Tourism; Appropriations -SJ 751
• Placed on Calendar, on 2nd reading -SJ 751
• Substituted for CS/CS/SB 1408 -SJ 751
• Read 2nd time -SJ 751
• Read 3rd time -SJ 751
• CS passed; YEAS 38 NAYS 0 -SJ 751
4/29/2013 House • Ordered enrolled -HJ 968
6/10/2013 • Signed by Officers and presented to Governor
6/14/2013 • Approved by Governor
6/17/2013 • Chapter No. 2013-209
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CS/HB 1191, Enrolled (Current Bill Version) Posted 4/29/2013 at 5:52 PM
Bill Text: PDF Analyses: None Related Bills (3)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1408 (c2) Captive Insurance Richter Similar Last Action: 4/29/2013 S Laid on Table, companion bill(s) passed, see CS/HB 1191 (Ch. 2013-209) -SJ 751
Location: Laid on Table
H 635 (e1) Insurance Edwards Compare Last Action: 5/3/2013 H Died in returning Messages, companion bill(s) passed, see CS/HB 157 (Ch. 2013-190), CS/HB 1191 (Ch. 2013-209), CS/CS/HB 7125 (Ch. 2013-160), SB 356 (Ch. 2013-125), CS/CS/SB 468 (Ch. 2013-66), CS/SB 1842 (Ch. 2013-101)
Location: In returning messages from Senate
S 1046 (c2) Insurance Brandes Compare Last Action: 4/26/2013 S Laid on Table, companion bill(s) passed, see CS/HB 157 (Ch. 2013-190), CS/HB 1191 (Ch. 2013-209), CS/CS/HB 7125 (Ch. 2013-160), SB 356 (Ch. 2013-125), CS/CS/SB 468 (Ch. 2013-66), CS/SB 1842 (Ch. 2013-101) -SJ 706
Location: Laid on Table
Citations - Statutes (8)
Citation Catchline Location in Bill Location In Bill Help 628.901 Definitions. Page 2 (pdf) 628.905 Licensing; authority. Page 3 (pdf) 628.907 Minimum capital and net assets requirements; restriction on payment of dividends. Page 5 (pdf) 628.909 Applicability of other laws. Page 5 (pdf) 628.9142 Reinsurance; effect on reserves. Page 7 (pdf) 628.915 Exemption from compulsory association. Page 7 (pdf) 628.917 Insolvency and liquidation. Page 8 (pdf) 628.919 Standards to ensure risk management control by parent company. Page 8 (pdf) -
CS/HB 1191, Engrossed 1 Posted 4/26/2013 at 3:10 PM
Bill Text: PDF Analyses: None Related Bills (3)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1408 (c2) Captive Insurance Richter Similar Last Action: 4/29/2013 S Laid on Table, companion bill(s) passed, see CS/HB 1191 (Ch. 2013-209) -SJ 751
Location: Laid on Table
H 635 (e1) Insurance Edwards Compare Last Action: 5/3/2013 H Died in returning Messages, companion bill(s) passed, see CS/HB 157 (Ch. 2013-190), CS/HB 1191 (Ch. 2013-209), CS/CS/HB 7125 (Ch. 2013-160), SB 356 (Ch. 2013-125), CS/CS/SB 468 (Ch. 2013-66), CS/SB 1842 (Ch. 2013-101)
Location: In returning messages from Senate
S 1046 (c2) Insurance Brandes Compare Last Action: 4/26/2013 S Laid on Table, companion bill(s) passed, see CS/HB 157 (Ch. 2013-190), CS/HB 1191 (Ch. 2013-209), CS/CS/HB 7125 (Ch. 2013-160), SB 356 (Ch. 2013-125), CS/CS/SB 468 (Ch. 2013-66), CS/SB 1842 (Ch. 2013-101) -SJ 706
Location: Laid on Table
Floor Votes (2)
Date Chamber Result 4/29/2013 10:21 AM House 116 Yeas - 0 Nays 4/29/2013 2:40 PM Senate 38 Yeas - 0 Nays Citations - Statutes (8)
Citation Catchline Location in Bill Location In Bill Help 628.901 Definitions. Page 2 (pdf) 628.905 Licensing; authority. Page 3 (pdf) 628.907 Minimum capital and net assets requirements; restriction on payment of dividends. Page 5 (pdf) 628.909 Applicability of other laws. Page 5 (pdf) 628.9142 Reinsurance; effect on reserves. Page 7 (pdf) 628.915 Exemption from compulsory association. Page 7 (pdf) 628.917 Insolvency and liquidation. Page 8 (pdf) 628.919 Standards to ensure risk management control by parent company. Page 8 (pdf) -
CS/HB 1191, Committee Substitute 1 Posted 3/25/2013 at 3:52 PM
Bill Text: PDF Analyses: Regulatory Affairs Committee (Post-Meeting) 4/4/2013 (pdf)
Related Bills (3)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1408 (c2) Captive Insurance Richter Similar Last Action: 4/29/2013 S Laid on Table, companion bill(s) passed, see CS/HB 1191 (Ch. 2013-209) -SJ 751
Location: Laid on Table
H 635 (e1) Insurance Edwards Compare Last Action: 5/3/2013 H Died in returning Messages, companion bill(s) passed, see CS/HB 157 (Ch. 2013-190), CS/HB 1191 (Ch. 2013-209), CS/CS/HB 7125 (Ch. 2013-160), SB 356 (Ch. 2013-125), CS/CS/SB 468 (Ch. 2013-66), CS/SB 1842 (Ch. 2013-101)
Location: In returning messages from Senate
S 1046 (c2) Insurance Brandes Compare Last Action: 4/26/2013 S Laid on Table, companion bill(s) passed, see CS/HB 157 (Ch. 2013-190), CS/HB 1191 (Ch. 2013-209), CS/CS/HB 7125 (Ch. 2013-160), SB 356 (Ch. 2013-125), CS/CS/SB 468 (Ch. 2013-66), CS/SB 1842 (Ch. 2013-101) -SJ 706
Location: Laid on Table
Floor Amendments (1)
Amendment Sponsor Filed Last Floor Action Format 607153 - Amendment
Remove lines 54-60 and insert:Nelson 4/25/2013
1:23 PMHouse: Adopted
4/26/2013PDF Citations - Statutes (8)
Citation Catchline Location in Bill Location In Bill Help 628.901 Definitions. Page 2 (pdf) 628.905 Licensing; authority. Page 3 (pdf) 628.907 Minimum capital and net assets requirements; restriction on payment of dividends. Page 5 (pdf) 628.909 Applicability of other laws. Page 5 (pdf) 628.9142 Reinsurance; effect on reserves. Page 7 (pdf) 628.915 Exemption from compulsory association. Page 7 (pdf) 628.917 Insolvency and liquidation. Page 8 (pdf) 628.919 Standards to ensure risk management control by parent company. Page 8 (pdf) -
HB 1191, Original Filed Version Posted 3/1/2013 at 10:10 AM
Bill Text: PDF Analyses: Insurance and Banking Subcommittee (Post-Meeting) 7/16/2013 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1408 Captive Insurance Richter Similar Last Action: 4/29/2013 S Laid on Table, companion bill(s) passed, see CS/HB 1191 (Ch. 2013-209) -SJ 751
Location: Laid on Table
Citations - Statutes (10)
Citation Catchline Location in Bill Location In Bill Help 628.901 Definitions. Page 3 (pdf) 628.905 Licensing; authority. Page 7 (pdf) 628.907 Minimum capital and net assets requirements; restriction on payment of dividends. Page 9 (pdf) 628.908 Surplus requirements; restriction on payment of dividends. Page 10 (pdf) 628.909 Applicability of other laws. Page 10 (pdf) 628.910 Incorporation options and requirements. Page 12 (pdf) 628.9142 Reinsurance; effect on reserves. Page 12 (pdf) 628.915 Exemption from compulsory association. Page 13 (pdf) 628.917 Insolvency and liquidation. Page 13 (pdf) 628.921 Page 14 (pdf)