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CS/CS/HB 1271: Insurer Solvency

GENERAL BILL by Regulatory Affairs Committee ; Insurance and Banking Subcommittee ; Ingram ; (CO-INTRODUCERS) Hager

Insurer Solvency; Clarifies that production of documents does not waive attorney client or work-product privileges; revises provisions relating to mandatory control level events; revises provisions relating to insurer's annual statement; revises Standard Valuation Law; revises methods for evaluating valuation of industrial life insurance policies; revises provisions relating to calculating additional premium; requires OIR to value insurer reserves; directs FSC to adopt rules; revises Standard Nonforfeiture Law; revises amount of outstanding voting securities of domestic stock insurer or controlling company which person is prohibited from acquiring; deletes provision authorizing insurer to file disclaimer of affiliation & control in lieu of letter notifying OIR of FSC of acquisition of voting securities of domestic stock company; requires insurer to annually file registration statement by specified date; requires insurer to file annual enterprise risk report; authorizes OIR to assess fees on insurers for certain purposes; applying certain statutes related to solvency to prepaid limited health service organizations & HMOs.

Effective Date: 10/1/2014
Last Action: 4/29/2014 House - Laid on Table, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1300 (Ch. 2014-100) -HJ 853
Location: Laid on Table
Bill Text: PDF

Bill History

Date Chamber Action
3/2/2014 House • Filed
3/4/2014 House • Introduced -HJ 105
3/11/2014 House • Referred to Insurance and Banking Subcommittee; Regulatory Affairs Committee -HJ 270
3/17/2014 House • On Committee agenda-- Insurance and Banking Subcommittee, 03/19/14, 9:00 am, Sumner Hall
3/19/2014 House • CS by Insurance and Banking Subcommittee; YEAS 13 NAYS 0 -HJ 339
3/21/2014 House • Pending review of CS under Rule 7.19(c)
3/24/2014 House • Now in Regulatory Affairs Committee -HJ 337
• CS by Insurance and Banking Subcommittee read 1st time -HJ 335
4/8/2014 House • On Committee agenda-- Regulatory Affairs Committee, 04/10/14, 8:00 am, Sumner Hall
4/10/2014 House • CS/CS by- Regulatory Affairs Committee; YEAS 18 NAYS 0 -HJ 541
4/14/2014 House • Pending review of CS -under Rule 7.19(c)
4/15/2014 House • CS/CS by Regulatory Affairs Committee read 1st time -HJ 537
4/16/2014 House • Placed on Calendar -HJ 545
4/28/2014 House • Placed on Special Order Calendar, 04/29/14
4/29/2014 House • Substituted CS/CS/SB 1308 -HJ 853
• Laid on Table, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1300 (Ch. 2014-100) -HJ 853