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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
Bill Text: PDF

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  • 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

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  • CS/CS/HB 1271, Committee Substitute 2 (Current Bill Version) Posted 4/14/2014 at 12:02 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (6)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1273 (c2) Pub. Rec./Proprietary Business Information/OIR Ingram Linked Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100), CS/CS/SB 1308 (Ch. 2014-101) -HJ 809
    Location: Laid on Table     		Track This Bill
    S 1308 (er) Insurer Solvency Simmons Similar Last Action: 6/13/2014 Chapter No. 2014-101, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100)
    Location: Became Law     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (e1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    S 1260 (c2) Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill
    S 1300 (er) Public Records/Office of Insurance Regulation Simmons Compare Last Action: 6/13/2014 Chapter No. 2014-100, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101)
    Location: Became Law     		Track This Bill

    Citations - Statutes (17)

    Citation Catchline Location in Bill Location In Bill Help
    624.10 Transacting insurance. Page 4 (pdf)
    624.319 Examination and investigation reports. Page 6 (pdf)
    624.402 Exceptions, certificate of authority required. Page 7 (pdf)
    624.4085 Risk-based capital requirements for insurers. Page 8 (pdf)
    624.424 Annual statement and other information. Page 11 (pdf)
    625.121 Standard Valuation Law; life insurance. Page 15 (pdf)
    625.1212 Page 32 (pdf)
    625.1214 Page 42 (pdf)
    627.476 Standard Nonforfeiture Law for Life Insurance. Page 43 (pdf)
    628.461 Acquisition of controlling stock. Page 48 (pdf)
    628.801 Insurance holding companies; registration; regulation. Page 55 (pdf)
    628.803 Sanctions. Page 60 (pdf)
    628.804 Page 60 (pdf)
    628.805 Page 62 (pdf)
    636.045 Minimum surplus requirements. Page 63 (pdf)
    641.225 Surplus requirements. Page 64 (pdf)
    641.255 Acquisition, merger, or consolidation. Page 64 (pdf)

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  • CS/HB 1271, Committee Substitute 1 Posted 3/21/2014 at 9:56 AM

    Bill Text:   PDF
    Analyses:   Regulatory Affairs Committee (Post-Meeting) 4/15/2014 (pdf)

    Related Bills (6)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1273 (c2) Pub. Rec./Proprietary Business Information/OIR Ingram Linked Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100), CS/CS/SB 1308 (Ch. 2014-101) -HJ 809
    Location: Laid on Table     		Track This Bill
    S 1308 (c2) Insurer Solvency Simmons Similar Last Action: 6/13/2014 Chapter No. 2014-101, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100)
    Location: Became Law     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (e1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    S 1260 (c1) Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill
    S 1300 (e1) Public Records/Office of Insurance Regulation Simmons Compare Last Action: 6/13/2014 Chapter No. 2014-100, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101)
    Location: Became Law     		Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    588757 - Amendment
    Remove line 311 and insert:     		Ingram 4/9/2014
    8:26 PM     		Adopted without Objection
    4/11/2014     		PDF
    039573 - Amendment
    Remove lines 1364-1371 and insert:     		Ingram 4/9/2014
    8:27 PM     		Adopted without Objection
    4/11/2014     		PDF

    Citations - Statutes (17)

    Citation Catchline Location in Bill Location In Bill Help
    624.10 Transacting insurance. Page 4 (pdf)
    624.319 Examination and investigation reports. Page 6 (pdf)
    624.402 Exceptions, certificate of authority required. Page 7 (pdf)
    624.4085 Risk-based capital requirements for insurers. Page 8 (pdf)
    624.424 Annual statement and other information. Page 11 (pdf)
    625.121 Standard Valuation Law; life insurance. Page 15 (pdf)
    625.1212 Page 32 (pdf)
    625.1214 Page 42 (pdf)
    627.476 Standard Nonforfeiture Law for Life Insurance. Page 43 (pdf)
    628.461 Acquisition of controlling stock. Page 48 (pdf)
    628.801 Insurance holding companies; registration; regulation. Page 55 (pdf)
    628.803 Sanctions. Page 60 (pdf)
    628.804 Page 60 (pdf)
    628.805 Page 62 (pdf)
    636.045 Minimum surplus requirements. Page 63 (pdf)
    641.225 Surplus requirements. Page 64 (pdf)
    641.255 Acquisition, merger, or consolidation. Page 64 (pdf)

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  • HB 1271, Original Filed Version Posted 3/2/2014 at 2:37 PM

    Bill Text:   PDF
    Analyses:   Insurance and Banking Subcommittee (Post-Meeting) 6/30/2014 (pdf)

    Related Bills (6)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1273 (c1) Pub. Rec./Proprietary Business Information/OIR Ingram Linked Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100), CS/CS/SB 1308 (Ch. 2014-101) -HJ 809
    Location: Laid on Table     		Track This Bill
    S 1308 (c1) Insurer Solvency Simmons Similar Last Action: 6/13/2014 Chapter No. 2014-101, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100)
    Location: Became Law     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (c1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    S 1260 Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill
    S 1300 (c1) Public Records/Office of Insurance Regulation Simmons Compare Last Action: 6/13/2014 Chapter No. 2014-100, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101)
    Location: Became Law     		Track This Bill

    Committee Amendments (4)

    Amendment Sponsor Filed Last Committee Action Format
    651045 - Amendment
    Remove line 324 and insert:     		Ingram 3/18/2014
    7:42 PM     		Adopted without Objection
    3/19/2014     		PDF
    767747 - Amendment
    Remove lines 523-554 and insert:     		Ingram 3/18/2014
    7:43 PM     		Adopted without Objection
    3/19/2014     		PDF
    767377 - Amendment
    Remove lines 843-847 and insert:     		Ingram 3/18/2014
    7:44 PM     		Adopted without Objection
    3/19/2014     		PDF
    503421 - Amendment
    Remove lines 1437-1440 and insert:     		Ingram 3/18/2014
    7:45 PM     		Adopted without Objection
    3/19/2014     		PDF

    Citations - Statutes (17)

    Citation Catchline Location in Bill Location In Bill Help
    624.10 Transacting insurance. Page 4 (pdf)
    624.319 Examination and investigation reports. Page 6 (pdf)
    624.402 Exceptions, certificate of authority required. Page 7 (pdf)
    624.4085 Risk-based capital requirements for insurers. Page 8 (pdf)
    624.424 Annual statement and other information. Page 11 (pdf)
    625.121 Standard Valuation Law; life insurance. Page 15 (pdf)
    625.1212 Page 32 (pdf)
    625.1214 Page 42 (pdf)
    627.476 Standard Nonforfeiture Law for Life Insurance. Page 43 (pdf)
    628.461 Acquisition of controlling stock. Page 48 (pdf)
    628.801 Insurance holding companies; registration; regulation. Page 55 (pdf)
    628.803 Sanctions. Page 60 (pdf)
    628.804 Page 60 (pdf)
    628.805 Page 62 (pdf)
    636.045 Minimum surplus requirements. Page 63 (pdf)
    641.225 Surplus requirements. Page 63 (pdf)
    641.255 Acquisition, merger, or consolidation. Page 64 (pdf)

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