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Bill > H1271


FL H1271

FL H1271
Insurer Solvency


summary

Introduced
03/02/2014
In Committee
03/11/2014
Crossed Over
Passed
Dead
05/02/2014

Introduced Session

2014 Regular Session

Bill Summary

Clarifies that production of documents does not waive attorney client or work-product privileges; revises provisions relating to mandatory control level events; revises provisions relating to insurer's annual statement; revises Standard Valuation Law; revises methods for evaluating valuation of industrial life insurance policies; revises provisions relating to calculating additional premium; requires OIR to value insurer reserves; directs FSC to adopt rules; revises Standard Nonforfeiture Law; revises amount of outstanding voting securities of domestic stock insurer or controlling company which person is prohibited from acquiring; deletes provision authorizing insurer to file disclaimer of affiliation & control in lieu of letter notifying OIR of FSC of acquisition of voting securities of domestic stock company; requires insurer to annually file registration statement by specified date; requires insurer to file annual enterprise risk report; authorizes OIR to assess fees on insurers for certain purposes; applying certain statutes related to solvency to prepaid limited health service organizations & HMOs.

Committee Categories

Business and Industry, Government Affairs

Sponsors (2)

Other Sponsors (2)

Insurance and Banking Subcommittee (House), Regulatory Affairs Committee (House)

Last Action

Laid on Table, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1300 (Ch. 2014-100) (on 04/29/2014)

bill text


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