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BILL #

CHAPTER #

ISSUE

BILL DESCRIPTION

HB 446

25

Producer licensure - agent practices

Permits payment of a commission or promotion expense in connection with issuance of a surplus loan if approved by the director. Effective: July 1, 2006.

HB 448

27

Tax issues

Allows domestic insurers to invest in securities issued by companies domiciled in foreign countries. Effective: July 1, 2006.

HB 462

30

Motor vehicle insurance - traffic safety

Lowers the age of eligibility from 65 to 55 for the discount in auto insurance rates based on completing a motor vehicle accident prevention course. Effective: July 1, 2006.

HB 522

199

Workers' compensation - miscellaneous

Provides that a corporation or other legal entity that is a subscriber in a reciprocal insurer that transacts only workers' compensation insurance will be considered as one subscriber regardless of the number of wholly owned subsidiaries. Effective: July 1, 2006.

HB 585

49

Corporate governance - company rules

Adds to and amends existing law to clarify and consolidate requirements for notice and right to hearing for actions involving licenses and certificates of authority issued by the insurance department. Effective: July 1, 2006.

HB 586

45

Corporate governance - jurisdictional authority

Extends deadline for renewing an insurance administrator registration (TPA license) to Dec. 31 to coincide with the expiration date of the registration; changes registration renewals from annual to every two years; and revises penalties for late renewals of registrations. Effective: July 1, 2006.

HB 648

231

Workers' compensation - miscellaneous

Amends existing law relating to worker's compensation to provide that persons performing service in the course of the business of an employer are covered under private employment provisions; revises the definition of employment to remove from coverage relating to employment not carried on by the employer for the sake of pecuniary gain. Effective: July 1, 2006.

HB 649

206

Workers' compensation - miscellaneous

Amends existing law relating to worker's compensation; prohibits balance billing by charging, billing or otherwise attempting to collect directly from an injured employee payment for medical services in excess of amounts allowable in compensable claims. Effective: July 1, 2006.

HB 652

207

Financial regulation

Allows good will, trade names and other intangible assets to be allowed as assets in determination of the financial condition of an insurer as permitted by NAIC accounting practices and procedures. Effective: July 1, 2006.

HB 722

212

Producer licensure - agent practices

Allows insures or producers for insurers to offer to customers and prospective customers items having an aggregate value of $50 or less as inducements for the purchase of insurance. Effective: July 1, 2006.

HB 753

359

Property insurance

Permits cancellation of a standard fire policy for failure to pay premium upon at least 10 days notice, and to provide that for cancellation notices sent by mail for standard fire policies or commercial policies the 10-day notification period will begin to run five days following the date of the postmark. Effective: July 1, 2006.

SB 1295

247

Workers' compensation - fund management

Relates to the Industrial Special Indemnity Fund; revises the calculation of assessments; relates to workers compensation insurance; requires insurers to report on benefits paid during a one year period. Effective: July 1, 2006.

SB 1315

21

Tax issues

Deletes the reference in existing law to capping the amount of funds a self-insurance risk program uses to insure counties against liability claims at a specified amount; provides that capping the amount of surplus or reserves of a self-insurance pool is contrary to reasonable insurance practices. Effective: July 1, 2006.

SB 1371

186

Workers' compensation - benefits, claims or treatments

Amends existing law relating to worker's compensation to revise provisions relating to persons deemed as dependents and entitled to certain income benefits and to provide that income benefits for death shall be payable to certain children enrolled as students in accredited educational institutions or accredited vocational training programs. Effective: July 1, 2006.

SB 1374

258

Identity theft - security breach

Adds to existing law to provide for disclosure of breach of security of computerized personal information by an agency, individual or a commercial entity; provides procedures deemed in compliance with security breach requirements; provides penalties for violations. Effective: July 1, 2006.