Insurance holding companies; supervision of internationally active insurance groups. (HB1759)

Introduced By

Del. Lee Ware (R-Powhatan)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Insurance holding companies; internationally active insurance groups. Authorizes a designated state to act as a group-wide supervisor for an internationally active insurance group (IAIG). An IAIG is an insurance holding company group that has premiums written in at least three countries, has at least 10 percent of premiums written in foreign countries, and has total assets greater than $50 billion or total premiums greater than $10 billion. The measure enacts provisions of the National Association of Insurance Commissioners' revisions to the Model Insurance Holding Company System Regulatory Act. Amends § 38.2-1322, § 38.2-1333, of the Code of Virginia. Read the Bill »

Status

01/17/2019: In Committee

History

DateAction
12/21/2018Prefiled and ordered printed; offered 01/09/19 19102997D
12/21/2018Committee
12/21/2018Referred to Committee on Commerce and Labor
01/09/2019Impact statement from SCC (HB1759)
01/10/2019Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
01/14/2019Read first time
01/15/2019Read second time and engrossed
01/16/2019Read third time and passed House BLOCK VOTE (96-Y 0-N)
01/16/2019VOTE: BLOCK VOTE PASSAGE (96-Y 0-N) (see vote tally)
01/17/2019Constitutional reading dispensed
01/17/2019Referred to Committee on Commerce and Labor

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