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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.

Effective Date: 7/1/2013
Last Action: 6/17/2013 - Chapter No. 2013-209
Location: Became Law
Bill Text: PDF

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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)

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  • 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)

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  • 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 PM
    House: Adopted
    4/26/2013
    PDF

    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)

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  • 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)

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