Introduced
by
To clarify that the state insurance commissioner has sole jurisdiction to determine whether an insurer has an appropriate level of excess capital and surplus. The bill addresses a question raised by a recent class action lawsuit in which plaintiffs contended that an insurance company had too high a reserve.
Referred to the Committee on Financial Services
Substitute offered
To replace the previous version of the bill with a version recommended by the committee which reported it. The substitute incorporates technical changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the Senate 37 to 0 (details)
To clarify that the state insurance commissioner has sole jurisdiction to determine whether an insurer has an appropriate level of excess capital and surplus. The bill addresses a question raised by a recent class action lawsuit in which plaintiffs contended that an insurance company had too high a reserve.
