2015-04-18                     House Journal                      Page 1046
SB 107                                                                                                                        
The Labor & Commerce Committee considered:                                                                                      
                                                                                                                                
     SENATE BILL NO. 107                                                                                                        
     "An Act relating to insurance; relating to risk based capital for                                                          
     domestic insurers and fraternal benefit societies, including                                                               
     provisions related to insurers subject to risk based capital and                                                           
     action level event requirements; relating to review by the director                                                        
     of insurance of an insurer's risk based capital plan; relating to                                                          
     confidentiality and sharing of certain information submitted to the                                                        
     director of insurance; relating to evaluating an insurance holding                                                         
     company and the acquisition of control of or merger with a                                                                 
     domestic insurer; relating to risk based capital, risk management,                                                         
     and own risk and solvency assessments of insurers; clarifying                                                              
     provisions related to risk based capital plans; relating to                                                                
     exemptions by the director of insurance for certain domestic and                                                           
     casualty insurers from risk based capital requirements; relating to                                                        
     insurance holding companies, including filing requirements,                                                                
     divestiture, content of statements, notifications, and hearings;                                                           
     relating to registration requirements of insurers; relating to                                                             
     transactions within an insurance holding company system or                                                                 
     transactions involving a domestic insurer; relating to management                                                          

2015-04-18                     House Journal                      Page 1047
     and examination of domestic insurers that are part of an insurance                                                         
     holding company system; adding provisions relating to                                                                      
     participation by the director of insurance in a supervisory college;                                                       
     relating to civil and criminal penalties for violations by insurers                                                        
     and individuals; relating to provisions for risk management and                                                            
     own risk and solvency assessments by insurers; relating to                                                                 
     operating requirements for controlling insurance producers;                                                                
     relating to producer-controlled insurers; adding and amending                                                              
     definitions related to insurers; and providing for an effective date."                                                     
                                                                                                                                
The report was signed by Representative Olson, Chair, with the                                                                  
following individual recommendations:                                                                                           
                                                                                                                                
Do pass (1):  Olson                                                                                                             
                                                                                                                                
No recommendation (5):  LeDoux, Tilton, Hughes, Kito, Josephson                                                                 
                                                                                                                                
The following fiscal note(s) apply:                                                                                             
                                                                                                                                
1.  Zero, Dept. of Commerce, Community, & Economic Development                                                                  
                                                                                                                                
SB 107 was referred to the Rules Committee for placement on the                                                                 
calendar.