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Minutes for SB289 - Committee on Insurance
Short Title
Updating the version of risk-based capital instructions in effect.
Minutes Content for Mon, Mar 16, 2020
Chairperson Vickrey opened the hearing on SB 289. Assistant Revisor of Statutes, Eileen Ma, briefed the members on the bill (Attachment 8).
Lee Modesitt testified in support of the bill. He said the bill updated the risk-based capital (RBC) instructions, which told companies how to calculate RBC to the current version. The amendment replaced the year 2018 with 2019 (Attachment 9).
Members asked questions of the proponent including: the reason why it could not be amended to automatically update the year.
There being no other questions or conferees, the Chairperson closed the hearing on SB 289.
