SB170 Alabama 2016 Session
Bill Summary
This bill would provide further for the regulation of insurance by requiring certain insurers to maintain a risk management framework and complete an Own Risk and Solvency Assessment (ORSA) to be filed with the Commissioner of Insurance; by adopting a law substantially similar to the Risk Management and Own Risk and Solvency Assessment Model Act developed by the National Association of Insurance Commissioners
The bill would provide that documents and other information from an insurer in an assessment would be confidential and privileged except as otherwise provided in the bill
Relating to the State Insurance Department and the regulation of insurance; to add Chapter 29A to Title 27, Code of Alabama 1975; to provide requirements for maintaining a risk management framework and completing an Own Risk and Solvency Assessment (ORSA), with instructions for filing an ORSA Summary Report with the Commissioner of Insurance; and to provide that documents and other information from an insurer in an assessment would be confidential and privileged except as otherwise provided in this act.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 4, 2016 | S | Assigned Act No. 2016-386. |
| May 4, 2016 | S | Enrolled |
| May 4, 2016 | H | Signature Requested |
| May 4, 2016 | S | Passed Second House |
| May 4, 2016 | H | Ford motion to Suspend Rules adopted Voice Vote |
| May 4, 2016 | H | Motion to Read a Third Time and Pass adopted Roll Call 902 |
| May 4, 2016 | H | Third Reading Passed |
| May 4, 2016 | H | Henry motion to Carry Over Temporarily adopted Voice Vote |
| May 4, 2016 | H | Third Reading Carried Over |
| April 7, 2016 | H | Read for the second time and placed on the calendar |
| March 22, 2016 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
| March 22, 2016 | S | Engrossed |
| March 22, 2016 | S | Motion to Read a Third Time and Pass adopted Roll Call 476 |
| March 22, 2016 | S | Blackwell motion to Adopt adopted Roll Call 475 |
| March 22, 2016 | S | Blackwell Amendment Offered |
| March 22, 2016 | S | Third Reading Passed |
| February 17, 2016 | S | Read for the second time and placed on the calendar |
| February 9, 2016 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 6, 2016 | Room 410 at 10:30 | House INS Hearing |
| Hearing | February 17, 2016 | Room 320 **AGENDA CHANGE: PUBLIC HEARING ADDED** at 11:30 | Senate B&I Public Hearing |
| Hearing | February 17, 2016 | Room 320 at 11:30 | Senate B&I Public Hearing |