NAIC Revisions/Reinsurance

What it does

The legislature's own summary of the bill, or its official long title.

This bill reflects the National Association of Insurance Commissioner’s revisions to the Model Credit for Reinsurance Act giving the Commissioner express regulatory authority to address the handling and treatment of reinsurance agreements entered into, directly or indirectly, with life and health insurer-affiliated captives, special purpose vehicles or similar entities, including the authority to promulgate model regulations adopted by the NAIC that are required for the Department to meet accreditation.

Every action

7 steps, oldest first, as the legislature records them.

1. Jan 12, 2023CommitteeIntroduced and Assigned to Economic Development/Banking/Insurance & Commerce Committee in House · House Economic Development/Banking/Insurance & Commerce
2. Jan 18, 2023CommitteeReported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 12 On Its Merits · House Economic Development/Banking/Insurance & Commerce
3. Jan 26, 2023HousePassed By House. Votes: 40 YES 1 ABSENT40–0 vote
4. Jan 26, 2023CommitteeAssigned to Banking, Business, Insurance & Technology Committee in Senate · Senate Banking, Business, Insurance & Technology
5. Mar 15, 2023CommitteeReported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 8 On Its Merits · Senate Banking, Business, Insurance & Technology
6. May 11, 2023SenatePassed By Senate. Votes: 21 YES21–0 vote
7. May 25, 2023GovernorSigned by Governor

Roll calls

2 recorded votes: 2 on the floor, 0 in committee. Each shows how every member voted.

Sponsors

The member who introduced it, joined by 5 cosponsors: 4 Democrats, 1 Republican.

• WB William BushD Primary sponsor · District 29
• SM Spiros MantzavinosD Joint sponsor · District 7