BILL ANALYSIS S.B. 1012 By: Creighton Insurance Committee Report (Unamended) BACKGROUND AND PURPOSE Interested parties observe that state insurance regulators participate in national regulatory enforcement databases. The parties contend that a reporting obligation requiring an insurer to notify and provide certain documentation to the commissioner of insurance regarding an insurer's violation of certain insurance laws of another state is redundant and obsolete. S.B. 1012 seeks to remove this reporting requirement. CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS S.B. 1012 amends the Insurance Code to remove the requirement that an insurer notify the commissioner of insurance and deliver a copy of any applicable order or judgment to the commissioner not later than the 30th day after the date of an imposition of a penalty, forfeiture, or sanction on the insurer for a violation of the insurance laws of another state. EFFECTIVE DATE September 1, 2017.
BILL ANALYSIS
# BILL ANALYSIS
S.B. 1012
By: Creighton
Insurance
Committee Report (Unamended)
S.B. 1012
By: Creighton
Insurance
Committee Report (Unamended)
BACKGROUND AND PURPOSE Interested parties observe that state insurance regulators participate in national regulatory enforcement databases. The parties contend that a reporting obligation requiring an insurer to notify and provide certain documentation to the commissioner of insurance regarding an insurer's violation of certain insurance laws of another state is redundant and obsolete. S.B. 1012 seeks to remove this reporting requirement.
CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS S.B. 1012 amends the Insurance Code to remove the requirement that an insurer notify the commissioner of insurance and deliver a copy of any applicable order or judgment to the commissioner not later than the 30th day after the date of an imposition of a penalty, forfeiture, or sanction on the insurer for a violation of the insurance laws of another state.
EFFECTIVE DATE September 1, 2017.
BACKGROUND AND PURPOSE
Interested parties observe that state insurance regulators participate in national regulatory enforcement databases. The parties contend that a reporting obligation requiring an insurer to notify and provide certain documentation to the commissioner of insurance regarding an insurer's violation of certain insurance laws of another state is redundant and obsolete. S.B. 1012 seeks to remove this reporting requirement.
CRIMINAL JUSTICE IMPACT
It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
S.B. 1012 amends the Insurance Code to remove the requirement that an insurer notify the commissioner of insurance and deliver a copy of any applicable order or judgment to the commissioner not later than the 30th day after the date of an imposition of a penalty, forfeiture, or sanction on the insurer for a violation of the insurance laws of another state.
EFFECTIVE DATE
September 1, 2017.