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Session 121 - (2015-2016)Printer Friendly
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S 1064 General Bill, By Young and Rankin
Summary: Insurers writing workers' compensation policy
    A BILL TO AMEND SECTION 38-73-525 OF THE 1976 CODE, RELATING TO THE REQUIREMENT THAT AN INSURER WRITING A WORKERS' COMPENSATION POLICY SHALL FILE CERTAIN INFORMATION ON WHICH IT RELIES TO SUPPORT ITS RATE REQUEST, TO PROVIDE THAT THE INSURER MUST ADOPT THE MOST RECENT LOSS COST WITHIN ONE HUNDRED TWENTY DAYS OF APPROVAL OF THE LOSS COSTS; AND TO AMEND SECTION 38-73-1210, RELATING TO THE REQUIREMENT THAT ITS OBLIGATION TO MAKE CERTAIN FILINGS MAY BE SATISFIED BY MAKING FILINGS AS A MEMBER OF, OR SUBSCRIBER TO, A LICENSED RATING ORGANIZATION THAT MAKES FILINGS, TO REQUIRE THE FILINGS BE RULE AND FORM FILINGS AND NOT LOSS COST ADOPTION FILINGS, AND REQUIRE THE INSURER TO FILE FOR CERTAIN APPROVAL IF THE RATING ORGANIZATION TO WHICH IT SUBSCRIBES HAS A RATE INCREASE WITHIN TWELVE MONTHS AFTER THE INSURER BECOMES A MEMBER.
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02/04/16Senate Introduced and read first time (Senate Journal-page 5)
02/04/16Senate Referred to Committee on Banking and Insurance (Senate Journal-page 5)
04/06/16Senate Committee report: Favorable with amendment Banking and Insurance (Senate Journal-page 8)
04/07/16Senate Committee Amendment Adopted (Senate Journal-page 32)
04/07/16Senate Read second time (Senate Journal-page 32)
04/07/16Senate Roll call Ayes-37 Nays-0 (Senate Journal-page 32)
04/12/16Senate Read third time and sent to House (Senate Journal-page 13)
04/13/16House Introduced and read first time (House Journal-page 4)
04/13/16House Referred to Committee on Judiciary (House Journal-page 4)
05/24/16House Committee report: Favorable Judiciary (House Journal-page 11)



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