Introduced
by
To require larger insurance companies to regularly perform an “own risk and solvency assessment" (ORSA), defined as a “confidential internal assessment…of the material and relevant risks associated with the insurer's current business plan, and the sufficiency of capital resources to support those risks.” This would have to be submitted to the state annually.
Referred to the Committee on Insurance
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Passed in the House 107 to 0 (details)
Referred to the Committee on Insurance
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Amendment offered
To establish a new date on which the bill will go into effect if passed.
The amendment passed by voice vote
Passed in the Senate 38 to 0 (details)
To require larger insurance companies to regularly perform an “own risk and solvency assessment" (ORSA), defined as a “confidential internal assessment…of the material and relevant risks associated with the insurer's current business plan, and the sufficiency of capital resources to support those risks.” This would have to be submitted to the state annually.
