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Minutes for SB267 - Committee on Insurance
Short Title
Updating the effective date of risk-based capital instructions.
Minutes Content for Tue, Mar 6, 2018
Chairperson Jene Vickrey opened the hearing on SB267.
Jason Thompson, Office of Revisor of Statutes, presented a bill brief for SB267. (Attachment 1)
Clark Shultz testified in support of the bill. (Attachment 2) Mr. Shultz stated that this bill changes the date of risk based capital instructions. Representative Adam Smith asked if there was a specific reason to identify the exact date. Mr. Shultz responded that because the calculations are updated annually and it is the department's desire to keep the legislature involved in that process they like having the date changed every year. Otherwise, the NAIC (National Association of Insurance Commissioners) could develop guidelines that the legislature may or may not agree with.
There being no further discussion, Chairperson Jene Vickrey closed the hearing on SB267.
