DE HB305 | 2015-2016 | 148th General Assembly
Status
Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Passed on August 10 2016 - 100% progression
Action: 2016-08-10 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Passed on August 10 2016 - 100% progression
Action: 2016-08-10 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Summary
This bill amends Title 18, Chapter 58, by adding a higher RBC standard for trend testing from 2.5 to 3.0 for a life insurance company, health insurance company, or a fraternal benefit society. The bill’s language comes directly from the NAIC Risk-Based Capital (RBC) For Insurers Model Act. The bill will enhance the financial surveillance of life companies, and is an accreditation requirement as of January 1, 2017. Property and Casualty companies already have the 3.0 trend testing.
Title
An Act To Amend Title 18 Of The Delaware Code Relating To Risk-based Capital (rbc) For Insurers.
Sponsors
| Sen. Charles Paradee [D] | Rep. Bryon Short [D] | Sen. Brian Bushweller [D] | Rep. Helene Keeley [D] |
| Rep. John Mitchell [D] | Sen. David Wilson [R] |
Roll Calls
2016-06-30 - Senate - Senate Third Reading (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2016-08-10 | House | Signed by Governor |
| 2016-06-30 | Senate | Passed by Senate. Votes: Passed 21 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT |
| 2016-06-23 | Senate | Reported Out of Committee (INSURANCE & TELECOMMUNICATIONS) in Senate with 6 On Its Merits |
| 2016-06-22 | Senate | Assigned to Insurance & Telecommunications Committee in Senate |
| 2016-06-22 | House | Passed by House of Representatives. Votes: Passed 39 YES 0 NO 0 NOT VOTING 2 ABSENT 0 VACANT |
| 2016-04-20 | House | Reported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 8 On Its Merits |
| 2016-04-06 | House | Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House |
