HB 350

Bill Subjects

Administrative Regulations And Proceedings Insurance Insurance, Health International Trade And Relations Interstate Cooperation Reports Mandated State Agencies Technical Corrections

Abstract

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.