Last Action | 04/08/22: signed by Governor (Acts Ch. 133) |
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Title | AN ACT relating to insurance regulatory requirements. |
Bill Documents |
Acts Chapter 133
Current/Final Introduced |
Bill Request Number | 1465 |
Sponsor | J. Gooch Jr. |
Summary of Original Version | Amend KRS 304.2-205 and KRS 304.3-240 to require electronic filings; amend KRS 304.2-230 to add analysts to insurance examination provisions; amend KRS 304.5-140 to provide additional authority for the insurance commissioner relating to the assuming insurer list; amend KRS 304.6-134 to remove requirement that a domestic company report total adjusted capital of at least 450% of authorized control level risk-based capital in order to qualify for an exemption from NAIC valuation manual standards; amend KRS 304.17A-300 to terminate the issuance of certificates of filing for provider-sponsored integrated health delivery networks; amend KRS 304.37-010 to modify definition of "commissioner" and add definition for "NAIC"; amend KRS 304.37-020 to add definitions; require certain insurance holding company systems to file an annual group capital calculation with a lead state insurance commissioner; require certain insurance holding company systems scoped into the NAIC Liquidity Stress Test Framework to file liquidity stress test results with a lead state insurance commissioner; amend KRS 304.37-050 to modify confidentiality provisions relating to documents, materials, or other information in the possession of the insurance commissioner; add confidentiality provisions for group capital calculations and liquidity stress test results; make technical amendments throughout. |
Index Headings of Original Version |
Insurance - Insurance companies, NAIC valuation manual standards, exemptions Insurance - Insurance filings, electronic submission Insurance - Insurance holding company systems, filing requirements Insurance, Health - Provider-sponsored integrated health delivery networks, termination of new licenses International Trade and Relations - International insurance holding company systems, filing requirements Interstate Cooperation - Lead state insurance commissioner, insurance holding company systems, interstate regulation State Agencies - Department of Insurance, credit for reinsurance, regulatory authority State Agencies - Department of Insurance, examination authority Technical Corrections - Insurance regulatory statutes, technical corrections Administrative Regulations and Proceedings - Lead state insurance commissioner, insurance holding company systems, filing requirements Reports Mandated - Insurance holding company systems, filing requirements |
Jump to Proposed Amendments | Senate Committee Substitute 1 |
Votes | Vote History |
01/24/22 |
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01/25/22 |
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02/23/22 |
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02/24/22 |
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03/02/22 |
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03/03/22 |
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03/10/22 |
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03/22/22 |
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03/23/22 |
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03/24/22 |
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03/25/22 |
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03/29/22 |
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03/30/22 |
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04/08/22 |
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Amendment | Senate Committee Substitute 1 |
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Summary | Retain original provisions; amend KRS 304.38-070 to establish regulatory requirements for health maintenance organizations that solely operate as a Medicare Advantage organization under federal law; create a new section of Subtitle 38 of KRS Chapter 304 to establish requirements for provider-sponsored integrated health networks to convert to health maintenance organizations that solely operate as a Medicare Advantage organization under federal law; amend KRS 304.38-200 to conform; make technical changes. |
Index Headings |
Federal Laws and Regulations - Health maintenance organizations, operation as an MA organization under federal law Insurance - Insurance companies, NAIC valuation manual standards, exemptions Insurance - Insurance filings, electronic submission Insurance - Insurance holding company systems, filing requirements Insurance, Health - Health maintenance organizations, operation as an MA organization, regulatory requirements Insurance, Health - Provider-sponsored integrated health delivery networks, conversion rights Insurance, Health - Provider-sponsored integrated health delivery networks, termination of new licenses International Trade and Relations - International insurance holding company systems, filing requirements Interstate Cooperation - Lead state insurance commissioner, insurance holding company systems, interstate regulation State Agencies - Department of Insurance, credit for reinsurance, regulatory authority State Agencies - Department of Insurance, examination authority Technical Corrections - Insurance regulatory statutes, technical corrections Administrative Regulations and Proceedings - Department of Insurance, insurance holding company systems, filing requirements Reports Mandated - Insurance holding company systems, filing requirements |
Last updated: 2/8/2023 2:57 PM (EST)