STATE AND FEDERAL LEGISLATIVE UPDATE
Following are selected bills introduced in legislatures relevant to reinsurance, plus one that was introduced last year and has now been adopted.
- Captive insurance: Hawaii HB 718 (medical malpractice captive insurance); Missouri SB 269 (text and summary) (amendments to captive insurer statutes); South Carolina S 323 (captive insurer amendments);
- Cat risks: US S 505 (establish a National Catastrophe Risks Consortium and a National Homeowner’s Insurance Stabilization Program); Florida HB 437 (creating a state hurricane cat fund as a part of the State Board of Administration); Missouri HB 367 (text and summary) (creation of state cat fund for earthquake damage); Texas SB 1379 (establishment, funding and operation of a state cat fund);
- Financial issues: Hawaii (adopting effective February 2009, changes to requirements for the disclosure of material transactions – pre-adoption text the subject of a prior post); South Carolina S 202 (amending the definition of “admitted assets”);
- Medical insurance: Texas HB 1578 (establishment of a medical reinsurance system).
This post written by Rollie Goss.
