SB 594: Commercial Lines Deregulation
Exempts certain lines and endorsements of commercial insurance from requirements to file rates, rate plans, modifications, and manuals with the Department of Insurance and specifies that filings for other commercial lines and endorsements shall be filed for informational purposes within 10 days of their use.
Specifies that the commercial policies' forms are exempt from filing requirements if the commercial policyholder's annual commercial premiums total at least $100,000 and the policyholder employs a full-time risk manager or has retained a licensed insurance producer to negotiate on its behalf.
Policies exempt from these filing requirements shall include a notice that the policy may include rates or forms exempt from filing with the Department of Insurance.
Insurers renewing policies exempt from form filing requirements shall give notice at least 10 days prior to the policy's expiration date if, after renewal, there will be a material change in coverage not specifically requested by the insured, required by law, or based on change to the risk insured.
SB 708: Minimum Motor Vehicle Liability
Increases, from ten thousand dollars to twenty-five thousand dollars, the minimum motor vehicle liability coverage a person must carry for others' property when operating a motor vehicle.
Also requires written notice of a reduction in coverage to be provided to the insured no less than 15 days prior to the effective date of the proposed reduction. Such notice may be provided at the same time as written notice of policy renewal.
SB 981: Self-Insurance for Workers' Compensation
Provides that any group of political subdivisions qualified to self-insure their workers' compensation liability may choose either the average rate classification method or the filed rate method. The group may only change the method used once without the consent of the Director of the Division of Workers' Compensation.
HB 1531: Joinder / Interpleader Actions
Modifies the circumstances in which a party may be joined in a civil action. Clarifies that a plaintiff's insured may be joined as a defendant and required to interplead when the plaintiff may be exposed to multiple claims. The term "plaintiff" includes an insurance company when the multiple claims exceed the total limits of applicable coverage. Sets forth a procedure by which an insurer or risk management entity may timely deposit all applicable limits of coverage into court in an interpleader action, and will not be further liable for any amount in excess of its contractual limits of coverage so long as the insurer defends its insured from any further claim or lawsuit.
HB 1719: Professional Employer Organizations
Establishes regulations and registration requirements for professional employer organizations (PEOs). Requires all PEOs to be registered with the Secretary of State. Registration of PEOs may be done individually or as a group. At the time of registration, and every year thereafter, the PEO or PEO group must file with the Secretary of State an audit performed by an independent certified public accountant. A PEO may be eligible for limited registration if it meets certain requirements.