SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2012 SESSION

  • | print version

SB 120 Risk-Based Capital Act; way to measure minimum capital appropriate for insurer based on size & risk.

Introduced by: Yvonne B. Miller | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Risk-Based Capital Act.  Applies the Risk-Based Capital Act, which provides a way of measuring the minimum amount of capital appropriate for an insurer based on its size and risk profile, to fraternal benefit societies. Other provisions make trend test requirements consistent among life and health, property and casualty, and health organizations. The life and health insurers' trend test is increased from 2.5 to 3.0 to be consistent with the trend tests for property and casualty and health insurers. A trend test is added for health organizations.


FULL TEXT

HISTORY