h_hie_2017a_2017-04-27t13:34:48z0 Hearing Summary

Date: 04/27/2017

Location: HCR 0107

01:35 PM -- SB 17-249



Representative Ginal presented Senate Bill 17-249 to the committee, along with amendment L.004 (Attachment A), amendment L.005 (Attachment B), and two handouts (Attachments C and D). This bill continues the Division of Insurance in the Department of Regulatory Agencies (DORA) until September 1, 2030, and implements recommendations from the 2016 sunset report. The bill establishes a separate sunset date of September 1, 2022, for the regulation of preneed funeral contracts. The division is required to study whether preneed funeral contract sellers are in compliance with applicable law and determine strategies to gain compliance if sellers are not in compliance. The division will report their findings by September 1, 2017, to the House and Senate Business committees. In addition to various technical changes, the bill:



170427 AttachA.pdf170427 AttachB.pdf 170427 AttachC.pdf ATTACH D



• repeals the duties assigned to the Department of Public Health and Environment related to health maintenance organizations (HMOs) and reassigns them to the Commissioner of Insurance;

• repeals the Certified Capital Company Act effective July 1, 2025; and

• repeals the exemption from consumer protection statutes for private passenger automobile policies with more than four automobiles.



01:42 PM -- Vivienne Belmont, representing DORA, testified in a neutral capacity.



01:49 PM -- Peg Brown, representing the Division of Insurance, answered committee questions.



01:50 PM -- Marguerite Salazar, Commissioner of Insurance, testified in support of the bill.



01:55 PM -- Rob Southey, representing Bankers Insurance Co., testified in support of the bill.



01:56 PM -- Mike Whitlock, representing American Surety Co., testified in support of the bill.



01:59 PM -- Yelana Love, representing the Office of Legislative Legal Services, explained amendment L.004 (Attachment A).