2015 Insurance Bills Passed Into Law
SB 145: Treatment of Eating Disorders
Requires health benefit plans delivered, issued for delivery, continued or renewed on or after January 1, 2017, in accordance with current law requirements for coverage of mental health disorders, to provide coverage for the diagnosis and treatment of eating disorders.
SB 164: Financial Transactions
Exempts in bankruptcy proceedings life insurance proceeds for the burial of a family member, modifies insurance foreign investment limits, changes the requirements for the valuation of reserves for life insurance, and modifies provisions regarding qualified spousal trusts.
SB 392: Fraternal Benefit Society Agents
Modifies which members of fraternal benefit societies are exempt from insurance agent licensing.
HB 50: Insurance Holding Company and Own Risk Solvency Assessment
Expands the authority of the Director of the Department of Insurance to assess the financial stability and risk of insurance holding companies.
HB 391: Automobile Insurance Notices
Requires any insurer canceling, refusing to renew, or refusing to write a policy of automobile insurance to send written notice by United States Postal Service certificate of mailing, first class mail using Intelligent Mail barcode (IMb), or another mail tracking method used, approved, or accepted by the United States Postal Service.
HB 709: Department of Insurance Regulation
Changes the laws regarding entities regulated by the Department of Insurance, Financial Institutions and Professional Registration, including allowing the Department to issue informational documents to educate the public and provide regulatory guidance.
HB 1022: Return of Premiums to Insureds
Allows a casualty insurer to return or refund a portion of its expense savings to an insured if the insured makes no reportable claim under specified coverages within a prescribed period of time established by the insurer, regardless of whether the claim is due to the fault of the insured.