2004-05-09                     House Journal                      Page 4049
SB 357                                                                                            
The Finance Committee has considered:                                                               
                                                                                                    
     CS FOR SENATE BILL NO. 357(FIN)                                                                
     "An Act relating to the regulation of insurance, insurance licenses,                           
     qualifications of insurance producers, surplus lines, fraud                                    
     investigations, electronic transactions, and compliance with                                   
     federal law and national standards; and providing for an effective                             
     date."                                                                                         
                                                                                                    
and recommends it be replaced with:                                                                 
                                                                                                    
     HOUSE CS FOR CS FOR SENATE BILL NO. 357(FIN)                                                   
     (same title)                                                                                   
                                                                                                    
The report was signed by Representatives Harris and Williams, Co-                                   
chairs, with the following individual recommendations:                                              
                                                                                                    
Do pass (3):  Foster, Croft, Williams                                                               
                                                                                                    
No recommendation (6):  Meyer, Hawker, Stoltze, Fate, Chenault,                                     
Harris                                                                                              
                                                                                                    
A House Finance Committee letter of intent for CSSB 357(FIN)                                        
signed by Representatives Harris and Williams, Co-chairs, follows:                                  
                                                                                                    
"It is the intent of the Legislature that the Division of Insurance should                          
take action to reform and modernize Alaska's system for insurance                                   
regulation. In order to preserve state regulation of insurance, state                               
regulation must respond to the changing nature of the business of                                   
insurance.                                                                                          
                                                                                                    
Specifically, the Division of Insurance should study alternative                                    
methods for regulating rates and forms and should develop proposals                                 

2004-05-09                     House Journal                      Page 4050
for changing Alaska's existing regulatory system in order to achieve                                
the goals of consumer protection and the fostering of a highly                                      
competitive insurance market in Alaska."                                                            
                                                                                                    
The following fiscal note(s) apply to HCS CSSB 357(FIN):                                            
                                                                                                    
1.  Zero, Dept. of Community & Economic Development                                                 
                                                                                                    
CSSB 357(FIN) is on today's calendar.