Legislature(2015 - 2016)

2015-03-27 House Journal

Full Journal pdf

2015-03-27                     House Journal                      Page 0595
HB 164                                                                                                                        
The Labor & Commerce Committee considered:                                                                                      
    HOUSE BILL NO. 164                                                                                                          
    "An Act relating to insurance; relating to risk based capital for                                                           
    domestic insurers and fraternal benefit societies, including                                                                
    provisions related to insurers subject to risk based capital and                                                            
    action level event requirements; relating to review by the director                                                         
    of insurance of an insurer's risk based capital plan; relating to                                                           
    confidentiality and sharing of certain information submitted to the                                                         
    director of insurance for evaluating insurance holding companies,                                                           
    risk based capital, risk management, and own risk and solvency                                                              
    assessments; clarifying provisions related to risk based capital                                                            
    plans; relating to exemptions by the director of insurance for                                                              
    certain domestic and casualty insurers from risk based capital                                                              
    requirements; relating to insurance holding companies, including                                                            
    filing requirements, divestiture, content of statements, and                                                                
    hearings; relating to registration requirements; relating to                                                                
    transactions within an insurance holding company system or                                                                  
    transactions involving a domestic insurer; relating to management                                                           
    and examination of domestic insurers that are part of an insurance                                                          
    holding company system; adding provisions relating to                                                                       
    participation by the director of insurance in a supervisory college;                                                        
    relating to civil and criminal penalties for violations of provisions                                                       
    related to insurance holding companies; relating to provisions for                                                          
    risk management and own risk and solvency assessments; relating                                                             
    to operating requirements for controlling insurance producers;                                                              
    relating to producer-controlled insurers; adding and amending                                                               
    definitions related to insurers; and providing for an effective date."                                                      
The report was signed by Representative Olson, Chair, with the                                                                  
following individual recommendations:                                                                                           
Do pass (6):  LeDoux, Tilton, Hughes, Kito, Josephson, Olson                                                                    
No recommendation (1):  Colver                                                                                                  

2015-03-27                     House Journal                      Page 0596
The following fiscal note(s) apply:                                                                                             
1.  Zero, Dept. of Commerce, Community, & Economic Development                                                                  
HB 164 was referred to the Rules Committee for placement on the