Number 1180 HB 150-INSURANCE PREMIUMS FOR RENTAL VEHICLES  MR. CHARLIE MILLER, representing the ANC Rental Corporation and Hertz Rental Corporation, said HB 150 takes care of an unintended omission from a piece of legislation that went through the Legislature a few years earlier, which made the public policy decision on how to regulate insurance products that are sold incidental to the rental contract. That bill required an insurance agent to hold a premium in a separate fiduciary account. This was necessary for an agent's business but insurance products were a small portion of the business and are separate from the contract. HB 150 allows that requirement to be waived. MS. AMY ERICKSON, staff to Representative Murkowski, noted that HB 150 is a cleanup measure that corrects a requirement that motor vehicle rental companies hold rental car insurance in separate trust accounts. This requirement was unintended and HB 150 eliminates it. SENATOR THERRIAULT asked for the identification of the original legislation. MS. ERICKSON replied it was SB 87 from 1999, which required licensing for rental car insurance. SENATOR THERRIAULT read the last sentence from a letter of support from the Department of Community and Economic Development (DCED), which said: Overall, I believe that this bill properly balances the public's right to be protected from loss of coverage after premium is paid while keeping the costs of regulatory compliance reasonable. CHAIRMAN TAYLOR asked if DCED supported HB 150 and someone from the audience responded yes. SENATOR COWDERY moved HB 150 from committee with individual recommendations. There being no objection, HB 150 moved from committee.