SB 168-PROPERTY/CASUALTY INSURANCE REGULATION                                                                     
                                                                                                                                
1:57:18 PM At ease 1:57:55 PM                                                                                               
                                                                                                                                
CHAIR CON BUNDE announced SB 168 to be up for consideration.                                                                    
                                                                                                                                
SARAH  MCNAIR  GROVE,   Property  Casualty  Actuary,  Division   of                                                             
Insurance,  explained that  last  year the  director was  asked  to                                                             
work with industry  representatives to  make changes to the review                                                              
process  and to move  away from  department approval  for rate  and                                                             
form filings submitted by insurers to the division.                                                                             
                                                                                                                                
The primary  change from  the current  process is  that some types                                                              
of  rate and  form  filings  were moved  away  from  requiring  the                                                             
division  to approve them  before an  insurer can  use them. There                                                              
is  still  the  same  statutory  requirement  that  rates   not  be                                                             
inadequate,  excessive or  unfairly discriminatory.  Hopefully  the                                                             
process  will be  a little bit  easier for  both the  division  and                                                             
for the insurers to get new products into the market.                                                                           
                                                                                                                                
CHAIR BUNDE asked if this is a housekeeping measure.                                                                            
                                                                                                                                
MS.  GROVE   replied  that   it's  a   little  bit   more  than   a                                                             
housekeeping  measure, because  it makes some  significant changes                                                              
to the way things are done. The division supports it.                                                                           
                                                                                                                                
1:59:50 PM                                                                                                                    
SENATOR  DAVIS  moved  to pass  SB  168  from committee.  Senators                                                              
Davis, Ben  Stevens and  Chair Bunde  voted yea; and  SB 168 moved                                                              
from committee.