Insurance holding company systems; group capital calculation and liquidity stress test.
Summary
Insurance holding company systems; group capital calculation and liquidity stress test. Requires that certaininsurers that are members of an insurance holding company systemfile a group capital calculation in accordance with the NationalAssociation of Insurance Commissioners (NAIC) Group Capital CalculationInstructions and a liquidity stress test in accordance with the NAICLiquidity Stress Test Framework. The bill provides exceptions tosuch reporting requirements and contains various provisions regardingthe confidentiality of information contained in such reports. Thebill authorizes the State Corporation Commission to require a depositor bond when an insurer that is a member of an insurance holdingcompany system is in a hazardous financial condition or a condition that would be grounds for the supervision, conservation, or delinquency proceeding.
Bill status
signed
all 5 stages cleared
Introduction
Jan 2022
Committee Review
Feb 2022
House of Delegates Passage
Jan 2022
Senate Passage
Mar 2022
Signed into Law
Apr 2022
Introduced Jan 5, 2022
Signed Apr 6, 2022
Floor votes · Senate Mar 3, 2022 · House of Delegates Jan 24, 2022
How they voted
39–0
Passed · 1 other
Total votes 40
Mar 3, 2022
D
Democratic21
100% Yea
R
Republican19
94% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
21
Key actions
5
Committee
4
Apr 6, 2022
Signed into law
Approved by Governor-Chapter 113 (effective 7/1/22)
executive
Mar 3, 2022
Upper · Passed
Passed Senate (39-Y 0-N)
upper
Feb 28, 2022
Upper · Passed
Reported from Commerce and Labor (15-Y 0-N)
upper
Jan 25, 2022
Committee
Referred to Committee on Commerce and Labor
upper
Jan 24, 2022
Lower · Passed
Read third time and passed House Block Vote (99-Y 0-N)
lower
Jan 18, 2022
Lower · Passed
Reported from Commerce and Energy (21-Y 0-N)
lower
Jan 5, 2022
Committee
Referred to Committee on Commerce and Energy
lower
Jan 5, 2022
Introduced
Prefiled and ordered printed; offered 01/12/22 22101310D
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Terry Kilgore
RRepublican
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