Legislature(2005 - 2006)
2005-02-14 House Journal
Full Journal pdf2005-02-14 House Journal Page 0311 HB 147 HOUSE BILL NO. 147 by the House Rules Committee by request of the Governor, entitled: "An Act relating to the regulation of insurance, insurance licensing, surplus lines, insurer deposits, motor vehicle service contracts, guaranteed automobile protection products, health discount plans, third-party administrators, self-funded multiple employer welfare arrangements, and self-funded governmental plans; and providing for an effective date." was read the first time and referred to the Labor & Commerce and Finance Committees. The following fiscal note(s) apply: 1. Fiscal, Dept. of Commerce, Community, & Economic Development The Governor's transmittal letter dated February 11, 2005, follows: "Dear Speaker Harris: Under the authority of art. III, sec. 18, of the Alaska Constitution, I am transmitting an omnibus insurance bill. The bill would make changes to certain insurance licensing provisions to provide more efficient licensing processes and to bring Alaska's law into greater conformity with other states' laws. It would make minor 2005-02-14 House Journal Page 0312 changes to the surplus lines statutes to clean up language and to make reporting easier for alien insurers. The bill also would make changes to the requirements for the administration of insurer deposits and would provide authorization for insurer deposits to be paid to the state insurance guaranty funds rather than becoming an asset of an insolvent insurer. Finally, the bill would give the Division of Insurance in the Department of Commerce, Community, and Economic Development the authority to regulate health discount plans, would clarify the state's regulation of guaranteed auto protection products and motor vehicle service contracts, and would provide for oversight of certain self-funded governmental plans. A sectional analysis, describing the bill in more detail, is available from the division of insurance. In sum, this omnibus insurance bill will make the regulation of insurance more efficient for the state, easier for industry, and at the same time give heightened protection to Alaska insurance consumers. I urge your prompt and favorable action on this measure. Sincerely yours, /s/ Frank H. Murkowski Governor"