CS/HB 1211: Credit for Reinsurance
GENERAL BILL by Commerce Committee ; Jones ; (CO-INTRODUCERS) Jacquet
Credit for Reinsurance; Transfers specified powers & duties of Commissioner of Insurance Regulation to OIR; requires credits for reinsurance to be allowed to ceding insurers; provides requirements for assuming insurers in order for such credits to be allowed; requires assuming insurers to have & maintain on ongoing basis minimum capital & surplus, or its equivalent, and, if applicable, minimum capital & surplus equivalents & central fund; requires assuming insurers to have & maintain on ongoing basis minimum solvency or capital ratio; requires assuming insurers to provide security in specified amount; authorizes ceding insurers & their representatives to seek orders requiring assuming insurers to post security for certain liabilities; authorizes office to revoke & suspend eligibility of assuming insurers under specified circumstance.
Bill History
| Date | Chamber | Action |
|---|---|---|
| 1/9/2020 | House |
• Filed |
| 1/14/2020 | House |
• Introduced -HJ 108 |
| 1/17/2020 | House |
• Referred to Insurance and Banking Subcommittee; Government Operations and Technology Appropriations Subcommittee; Commerce Committee -HJ 399 |
| 1/24/2020 | House |
• On Committee agenda-- Insurance and Banking Subcommittee, 01/28/20, 3:30 pm, Sumner Hall |
| 1/28/2020 | House |
• Favorable by Insurance and Banking Subcommittee; YEAS 13 NAYS 0 -HJ 463 • Now in Government Operations and Technology Appropriations Subcommittee -HJ 463 |
| 1/31/2020 | House |
• On Committee agenda-- Government Operations and Technology Appropriations Subcommittee, 02/04/20, 12:00 pm, Morris Hall |
| 2/4/2020 | House |
• Favorable by Government Operations and Technology Appropriations Subcommittee; YEAS 11 NAYS 0 -HJ 505 • Now in Commerce Committee -HJ 505 |
| 2/18/2020 | House |
• On Committee agenda-- Commerce Committee, 02/20/20, 9:00 am, Webster Hall |
| 2/20/2020 | House |
• CS by- Commerce Committee; YEAS 22 NAYS 0 -HJ 629 • Pending review of CS -under Rule 7.18(c) • CS by Commerce Committee read 1st time -HJ 626 |
| 2/21/2020 | House |
• Placed on Calendar -HJ 638 |
| 3/14/2020 | House |
• Indefinitely postponed and withdrawn from consideration • Died on Calendar |
