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2014 SESSION

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HB 336 Insurance joint underwriting associations; board of directors.

Introduced by: Robert B. Bell | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Commercial liability insurance and medical malpractice joint underwriting associations. Updates the insurance company trade associations that are authorized to appoint directors to the Medical Malpractice Joint Underwriting Association and the Commercial Liability Joint Underwriting Association if there is a need for either of the associations to be activated. References to (i) Alliance of American Insurers are changed to Property Casualty Insurers Association of America and (ii) National Association of Independent Insurers are changed to National Association of Mutual Insurance Companies.

SUMMARY AS INTRODUCED:

Commercial liability insurance and medical malpractice joint underwriting associations. Provides that the Property Casualty Insurers Association of America is authorized to appoint two members of the boards of directors of both the commercial liability insurance joint underwriting association and the medical malpractice joint underwriting association. Currently, the Alliance of American Insurers and the National Association of Independent Insurers are each authorized to appoint two members to each of these boards. The State Corporation Commission will be authorized to appoint to each of the boards two additional directors who are not affiliated with the Property Casualty Insurers Association of America or the American Insurance Association.