Introduced
by
To replace a prohibition on an insurer exposing itself to a loss on any one risk or hazard in an amount that exceeds 10 percent of its paid-up capital and surplus. Instead, an existing insurer (but not new ones with certain exceptions) could risk up to half its funds on a single risk or hazard.
Referred to the Committee on Economic Development and Regulatory Reform
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance as previously described.
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
Referred to the Committee on Insurance
Amendment offered
by
To revises details of the exceptions for new insurance companies.
The amendment passed by voice vote
Passed in the House 73 to 19 (details)
To replace a prohibition on an insurer exposing itself to a loss on any one risk or hazard in an amount that exceeds 10 percent of its paid-up capital and surplus. Instead, an existing insurer (but not new ones with certain exceptions) could risk up to half its funds on a single risk or hazard.
Passed in the Senate 35 to 0 (details)
To concur with the House-passed version of the bill.
