Relating to insurance holding company systems
SB 800 requires insurance companies operating within a holding company system in West Virginia to annually submit group capital calculations and liquidity stress test results to the lead state insurance commissioner. It mandates that these stress tests follow the National Association of Insurance Commissioners (NAIC) framework and templates, while keeping all submitted data confidential. The bill also clarifies that affiliate data remains the insurer's property and subjects affiliates to the commissioner's authority during financial distress proceedings. These provisions directly affect all insurance companies in West Virginia that are part of a holding company system, aiming to enhance financial oversight and transparency.
Bill status
signed
all 5 stages cleared
Introduction
Mar 2025
Committee Review
Apr 2025
Senate Passage
Mar 2025
House of Delegates Passage
Apr 2025
Signed into Law
Aug 2025
Introduced Mar 18, 2025
Signed Aug 8, 2025
Maddy AI version diff · 2 comparisons
What changed between versions
Committee Substitute
→
Enrolled Committee Substitute
·
4 edits
·
Apr 25, 2025
MODERATE
The bill was finalized as an Enrolled version, adding a co-sponsor (Senator Oliverio) and a specific effective date of January 1, 2026. Substantive changes include clarifying the definition of 'internationally active insurance group' by reformatting the criteria list, removing redundant 'filings' language from enterprise risk reporting, and updating confidentiality agreements to prohibit the NAIC from storing specific stress test data in permanent databases.
Scope change
The scope of applicability remains focused on insurance holding company systems, but the definition of 'internationally active insurance group' was clarified to ensure precise application of the liquidity stress test requirements.
TIMELINE
Added a specific effective date of January 1, 2026, and listed Senator Oliverio as a co-sponsor.
DEFINITION
Reformatted the definition of 'internationally active insurance group' to use a standard lettered list (A, B, C) for clarity regarding premium and asset thresholds.
REQUIREMENT
Removed the word 'filings' from the title of subsection (l) in §33-27-4, changing 'Enterprise Risk Filing Filings' to 'Enterprise Risk Filings' to correct a redundancy.
Added a specific prohibition in §33-27-7(c)(C) requiring that the NAIC and third-party consultants must not store liquidity stress test results in a permanent database after analysis is complete.
Floor votes · Senate Mar 25, 2025 · House of Delegates Apr 11, 2025
How they voted
33–0
Passed
Total votes 33
Mar 25, 2025
D
Democratic2
100% Yea
R
Republican31
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
36
Key actions
7
Committee
5
Apr 25, 2025
Signed into law
Approved by Governor 4/25/2025
upper
Apr 12, 2025
Signed into law
Approved by Governor 4/25/2025 - House Journal
lower
Apr 12, 2025
Signed into law
Approved by Governor 4/25/2025 - Senate Journal
upper
Apr 11, 2025
Lower · Passed
Passed House (Roll No. 519)
lower
Apr 8, 2025
Lower · Passed
Do pass
lower
Mar 27, 2025
Committee
To House Finance
lower
Mar 26, 2025
Committee
To Finance
lower
Mar 26, 2025
Introduced
Introduced in House
lower
Mar 25, 2025
Upper · Passed
Passed Senate (Roll No. 171)
upper
Mar 20, 2025
Upper · Passed
Committee substitute reported
upper
Mar 18, 2025
Introduced
Introduced in Senate
upper
Mar 18, 2025
Committee
To Banking and Insurance
upper
1 primary · 1 co-sponsor
Sponsors
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