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HB 1235 (2011) -  Captive Insurance

by Nuñez
Expands kinds of insurance for which captive insurer may seek licensure; limits risks that certain captive insurers may insure; specifies requirements & conditions relating to captive insurer's authority to conduct business; requires that before licensure certain captive insurers must file or submit to Commissioner of Insurance Regulation specified information, documents, & statements; requires captive insurance company to file evidence with commissioner relating to financial condition & quality of management & operations of company; requires applicant-sponsored captive insurer to file with commissioner business plan, statements, sample contracts, & evidence relating to expenses; requires captive insurance company to pay fees & costs relating to application for licensure & renewal; authorizes initial licensure until date certain & requires annual renewal thereafter; authorizes foreign or alien captive insurance company to become domestic captive insurance company by complying with specified requirements; authorizes commissioner to waive any requirements for public hearings relating to redomestication of alien captive insurance company; revises capitalization & security requirements for specified captive insurance companies.
Effective Date: July 1, 2011
Last Event: Died in Insurance & Banking Subcommittee on Saturday, May 7, 2011 2:07 AM

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Insurance & Banking Subcommittee Time: 05/07/2011 - 2:07 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Indefinitely postponed and withdrawn from consideration Time: 05/07/2011 - 12:01 AM Member: Committee: Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 03/14/2011 - 11:28 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Economic Affairs Committee Time: 03/14/2011 - 11:28 AM Member: Committee: Economic Affairs Committee Version: __
Event: H Referred to Government Operations Appropriations Subcommittee Time: 03/14/2011 - 11:28 AM Member: Committee: Government Operations Appropriations Subcommittee Version: __
Event: H Referred to Rulemaking & Regulation Subcommittee Time: 03/14/2011 - 11:28 AM Member: Committee: Rulemaking & Regulation Subcommittee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 03/14/2011 - 11:28 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 03/08/2011 - 10:24 PM Member: Committee: Version: __
Event: H Filed Time: 03/04/2011 - 1:51 PM Member: Nuñez Committee: Version: __