Insurance holding companies; applicability to certain plans. (HB2195)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Insurance holding companies. Revises the requirements applicable to insurance holding companies to conform to the National Association of Insurance Commissioners Insurance Holding Company System Regulatory Act and Insurance Holding Company System Model Regulation. The measure expands insurance regulators' examination authority to include all entities within the insurance holding company system to ascertain the financial condition of the insurer. The State Corporation Commission will be authorized to use supervisory colleges, which will be used by regulators (i) to coordinate supervision of an insurance holding company system that has national and international operations and (ii) to assess the company's business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes. The measure also makes dental and optometric services plans subject to the insurance holding companies provisions. The holding companies requirements in effect on June 30, 2013, will continue to apply to any insurance holding company transaction commenced prior to January 1, 2014, unless otherwise provided. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/10/2013 | Committee |
01/10/2013 | Presented and ordered printed 13101061D |
01/10/2013 | Referred to Committee on Commerce and Labor |
01/17/2013 | Stricken from docket by Commerce and Labor |
01/21/2013 | Impact statement from SCC (HB2195) |