1995-03-07                     Senate Journal                      Page 0515
                          STANDING COMMITTEE REPORTS                         
SB 53                                                                        
The Labor and Commerce Committee considered SENATE BILL                        
NO. 53 "An Act relating to insurance, to the licensing, accreditation,         
examination, regulation, and solvency of persons engaged in the                
insurance business, including insurers, nonadmitted insurers,                  
purchasing groups, risk retention groups, and United States branches           
of alien insurers; relating to the management of and the filing of             
reports by persons licensed or otherwise doing business under the              
insurance code; amending Alaska Rule of Civil Procedure 45; and                
providing for an effective date" and recommended it be replaced                
with                                                                           
                                                                               
CS FOR SENATE BILL NO. 53(L&C), entitled: "An Act relating                     
to consumer credit insurance; to regulation of risk retention or               
purchasing groups; to preemption of the regulation of insurance                
agents and insurance producers; to the general powers of the director          
of the division of insurance; to insurance examination hearings; to            
insurer certificates of authority; to annual and quarterly statements,         
taxes, and prohibited acts of insurers; to reinsurance credit allowed          
a domestic insurer; to risk based capital for insurers; to insurer assets      
and liabilities; to insurer investments; to insurance holding                  
companies; to regulation, licensing, and examination of insurance              
producers, managing general agents, third-party administrators,                
brokers, independent adjusters, and reinsurance intermediary                   
managers; to surplus lines insurance; to insurance trade practices and         
criminal insurance acts; to premium increases in automobile                    
insurance; to insurance rating; to assigned risk pools; to filing and          
approval of certain insurance policy forms; to required insurance              
coverage for acupuncture, nurse midwives' services, mammography,               
and phenylketonuria; to health insurance provided by small                     
employers; to transfer of an insurer's status as a domestic insurer; to        
quarterly statements of benevolent associations, fraternal benefit             
societies, and health maintenance organizations; to reciprocal insurers;       
to the definition of `member insurer' for purposes of the Alaska Life          
and Disability Insurance Guaranty Association; to electronic insurance         
data transfer and insurance funds transfer; to the definitions of              
`managing general agent' and `person' applicable to insurance law;             
to automobile assigned risk plans; placing a person employed by the            
division of insurance as an actuary or assistant actuary into the              
exempt service; amending Alaska Rule of Civil Procedure 45; and                
providing for an effective date."