2005-02-14                     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"