2019 House Bill 5242 / 2020 Public Act 16

Revise insurance regulation detail

Introduced in the House

Nov. 13, 2019

Introduced by Rep. Robert Wittenberg (D-27)

To expand the authority of the director of the state Department of Insurance and Financial Services to regulate large “holding companies” that operate insurance companies in at least three countries, and authorize the director to delegate “coordinating” this activity with authorities in other states.

Referred to the Committee on Insurance

Dec. 3, 2019

Reported without amendment

Refer to the Committee on Ways and Means with the recommendation that the substitute (H-1) be adopted.

Referred to the Committee on Ways and Means

Dec. 4, 2019

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

Passed in the House 103 to 2 (details)

Received in the Senate

Dec. 5, 2019

Referred to the Committee on Insurance and Banking

Jan. 9, 2020

Reported without amendment

With the recommendation that the bill pass.

Jan. 15, 2020

Passed in the Senate 36 to 0 (details)

To expand the authority of the director of the state Department of Insurance and Financial Services to regulate large “holding companies” that operate insurance companies in at least three countries, and authorize the director to delegate “coordinating” this activity with authorities in other states.

Signed by Gov. Gretchen Whitmer

Jan. 27, 2020