Legislature(2015 - 2016)BELTZ 105 (TSBldg)
04/14/2016 01:30 PM Senate LABOR & COMMERCE
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| Audio | Topic |
|---|---|
| Start | |
| HB290 | |
| HB234 | |
| HB372 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| += | HB 125 | TELECONFERENCED | |
| += | HB 305 | TELECONFERENCED | |
| + | HB 290 | TELECONFERENCED | |
| + | HB 372 | TELECONFERENCED | |
| + | HB 234 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
HB 372-OMNIBUS INSURANCE
2:36:40 PM
CHAIR COSTELLO reconvened the meeting and announced the
consideration of HB 372. [CSHB 372(L&C) am is before the
committee.]
2:37:31 PM
KONRAD JACKSON, Staff, Senator Kurt Olson, Alaska State
Legislature, introduced HB 372 the legislation on behalf of the
House Labor and Commerce Committee, speaking to the following
sponsor statement:
House Bill 372 is an insurance statute clean-up bill,
similar to ones introduced every few years.
The bill makes conforming changes to Alaska Statutes
which bring us into compliance with the ever changing
Federal insurance laws. The modernization of several
provisions to Title 21 also include consumer
protection and insurer licensing restrictions.
Your support for this important Title 21 update is
appreciated.
2:38:39 PM
LORI WING-HEIER, Director, Division of Insurance, Department of
Commerce, Community and Economic Development (DCCED), Anchorage,
Alaska provided the following sectional analysis for HB 372:
Sec. 1 AS 21.06.110 Director's annual report
that the director include in the annual report the
total number of public comments received and the
director's efforts, to the extent allowable by law, to
improve or maintain public access to information on
the individual health care insurance rate filings
before they become effective. This has been added to
provide the consumer with as notice of the impending
rate filing and the impact it will have on their
healthcare insurance plan.
Sec. 2 AS 21.06.120(a) Examination of insurers
references to the handbooks used throughout the
country for financial and market conduct examinations.
Both publications are published by the National
Association of Insurance Commissioners. Formerly, the
term "Examiners' Handbook" was a sufficient
description as both the financial examination and
market conduct examination handbooks used the term in
their title. Now, however, the "Market Conduct
Examiners Handbook" is no longer published and is part
of the "Market Regulation Handbook".
Sec. 3 AS 21.06.140(f) Conduct of examination
references to the handbooks used throughout the
country for financial and market conduct examinations.
Both publications are published by the National
Association of Insurance Commissioners. Formerly, the
term "Examiners' Handbook" was a sufficient
description as both the financial examination and
market conduct examination handbooks used the term in
their title. Now, however, the "Market Conduct
Examiners Handbook" is no longer published and is part
of the "Market Regulation Handbook".
Sec. 4 AS 21.06.160(a) Examination expense
general agents, third-party administrators,
reinsurance intermediary managers, motor vehicle
service contract providers, and surplus lines brokers
from the requirements of paying for division personnel
and overhead costs relating to an examination; such
entities would still be required to pay for the
division's "out-of-pocket" expenses including travel
expenses and for compensation of a contract examiner,
however, the entities could apply for a waiver from
the director based on financial hardship.
Sec. 5 AS 21.07.005 Regulations relating to health
care insurance policies