Legislature(2015 - 2016)BELTZ 105 (TSBldg)
04/16/2016 11:00 AM Senate LABOR & COMMERCE
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| Audio | Topic |
|---|---|
| Start | |
| HB372 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| + | HB 81 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| += | HB 372 | TELECONFERENCED | |
HB 372-OMNIBUS INSURANCE
3:25:31 PM
CHAIR COSTELLO announced the consideration of CS FOR HOUSE BILL
NO. 372(L&C) am; "An Act relating to insurance; relating to the
annual report by the director of insurance; relating to expenses
for insurance examinations; relating to regulations for
insurance utilization review, benefits determination, health
care insurance grievance resolution procedures, independent
review of adverse determinations or final adverse
determinations, independent review organizations, and continuing
education providers; relating to required provisions for health
care insurance contracts and policies, including health care
provider choice; establishing civil penalties for insurers for
failure to provide requested records; amending the definition of
'wet marine and transportation' insurance; amending provisions
on limited licenses to include crop insurance; relating to
third-party administrator notification requirements; relating to
certification filing by reinsurance intermediary brokers;
relating to rate filings, delivery of insurance policies or
endorsements; relating to refunds of variable life insurance
policies and variable annuities; establishing limitations on
issuance of long-term care insurance; relating to requirements
for group health insurance policies; amending the definition of
'group health insurance'; relating to motor vehicle service
contracts; relating to notice requirements for meetings of
stockholders or members of a domestic insurer; establishing a
definition of 'bona fide association'; relating to requirements
and penalties for committing a fraudulent or criminal insurance
act; updating criteria for examinations; relating to rate filing
deviations; establishing civil penalties for certain wilful
violations; and providing for an effective date."
She relayed the intention to continue the sectional analysis,
take questions and public testimony, adopt a committee
substitute (CS), and look to the will of the committee.
3:26:54 PM
LORI WING-HEIER, Director, Division of Insurance, Department of
Commerce, Community and Economic Development (DCCED), continued
the sectional analysis for HB 372, starting with Section 60.
Sec. 60 AS 21.69.310(c) Meetings of stockholders or
members
discretion to approve a date for an annual meeting
later than the first six months of each calendar year
upon a written request for approval for good cause.
The request for approval must be made at least 30 days
before the end of the six-month requirement. This
amendment reflects the fact that annual meetings of
Alaska insurers cannot always be held within the first
six months of the calendar year due to the wide
disbursement of board members and to the differing
requirements for the timing of annual meetings of
other states where holding companies with Alaska
insurers are domiciled.
Sec. 61 AS 21.69.390(b) Home office and records
21.69.390(d) as that subsection is being repealed for
the reasons as stated in Sec. 67 of this Bill
Analysis.
Sec. 62 AS 21.85.500(5) Definitions
"multiple employer welfare arrangement" to conform
with the meaning of the term as defined under 29
U.S.C. 1002.
Sec. 63 AS 21.97.020 General penalty
more consistent with other penalty provisions in AS 21
such as AS 21.27.440 and to provide a mechanism to use
under section four of the bill and for market conduct
enforcement. This section has not been updated for
over 30 years.
Sec. 64 AS 21.97.900(47) Definitions for title
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