Insurance holding company systems; group capital calculation and liquidity stress test. (HB82)

Introduced By

Del. Terry Kilgore (R-Gate City)

Progress

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

Description

Insurance holding company systems; group capital calculation and liquidity stress test. Requires that certain insurers that are members of an insurance holding company system file a group capital calculation in accordance with the National Association of Insurance Commissioners (NAIC) Group Capital Calculation Instructions and a liquidity stress test in accordance with the NAIC Liquidity Stress Test Framework. The bill provides exceptions to such reporting requirements and contains various provisions regarding the confidentiality of information contained in such reports. The bill authorizes the State Corporation Commission to require a deposit or bond when an insurer that is a member of an insurance holding company system is in a hazardous financial condition or a condition that would be grounds for the supervision, conservation, or delinquency proceeding. Read the Bill »

Status

01/18/2022: passed committee

History

DateAction
01/05/2022Prefiled and ordered printed; offered 01/12/22 22101310D
01/05/2022Committee
01/05/2022Referred to Committee on Commerce and Energy
01/13/2022Impact statement from SCC (HB82)
01/18/2022Reported from Commerce and Energy (21-Y 0-N) (see vote tally)
01/20/2022Read first time
01/21/2022Read second time and engrossed

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