Legislation

Title: Insurance - Risk Management and Own Risk and Solvency Assessment Act
Sponsored by: Chair, Finance Committee (By Request - Departmental - Maryland Insurance Administration)
Status: Approved by the Governor - Chapter 36
Analysis: Fiscal and Policy Note

Synopsis

Requiring specified carriers to maintain a risk management framework for specified purposes; requiring specified carriers or specified insurance groups to conduct an own risk and solvency assessment regularly or at any time when there are significant changes to the carrier's or insurance group's risk profile; requiring specified carriers to submit to the Maryland Insurance Commissioner a specified report or reports on request or if the Commissioner is the lead state commissioner of a specified insurance group; etc.

Committees

Original:: Finance

Opposite:: Economic Matters Click to view Recorded Media

Details

Bill File Type: Pre-Filed

Effective Date(s): January 1, 2018

By Request of the Governor

History

Legislation History
Chamber Senate Calendar Date 9/22/2016 Legislative Date 9/22/2016 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/11/2017 Legislative Date 1/11/2017 Action First Reading Finance Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Insurance - Risk Management and Own Risk and Solvency Assessment Act Proceedings
Chamber Senate Calendar Date 1/10/2017 Legislative Date 1/10/2017 Action Hearing 1/18 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Finance Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 2/20/2017 Legislative Date 2/20/2017 Action Favorable with Amendments Report by Finance Proceedings
Chamber Senate Calendar Date 2/21/2017 Legislative Date 2/21/2017 Action Favorable with Amendments {277270/1 Adopted Proceedings 28 Click to view Recorded Media
Chamber Senate Calendar Date 2/21/2017 Legislative Date 2/21/2017 Action Second Reading Passed with Amendments Proceedings 28 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Insurance - Risk Management and Own Risk and Solvency Assessment Act Proceedings
Chamber Senate Calendar Date 2/23/2017 Legislative Date 2/23/2017 Action Third Reading Passed (47-0) Proceedings 30 Click to view Recorded Media
Chamber House Calendar Date 2/24/2017 Legislative Date 2/24/2017 Action Referred Economic Matters Proceedings 33 Click to view Recorded Media
Chamber House Calendar Date 3/01/2017 Legislative Date 3/01/2017 Action Hearing 3/22 at 1:00 p.m. Proceedings
Chamber House Calendar Date 3/17/2017 Legislative Date 3/17/2017 Action Hearing canceled Proceedings
Chamber House Calendar Date 3/17/2017 Legislative Date 3/17/2017 Action Hearing 3/23 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/29/2017 Legislative Date 3/29/2017 Action Favorable with Amendments Report by Economic Matters Proceedings
Chamber House Calendar Date 3/29/2017 Legislative Date 3/25/2017 Action Favorable with Amendments {763791/1 Adopted Proceedings 59 Click to view Recorded Media
Chamber House Calendar Date 3/29/2017 Legislative Date 3/25/2017 Action Second Reading Passed with Amendments Proceedings 59 Click to view Recorded Media
Chamber House Calendar Date 3/30/2017 Legislative Date 3/26/2017 Action Third Reading Passed (136-0) Proceedings 60 Click to view Recorded Media
Chamber Senate Calendar Date 3/31/2017 Legislative Date 3/27/2017 Action Senate Concurs House Amendments Proceedings 56 Click to view Recorded Media
Chamber Senate Calendar Date 3/31/2017 Legislative Date 3/27/2017 Action Third Reading Passed (44-0) Proceedings 56 Click to view Recorded Media
Chamber Senate Calendar Date 3/31/2017 Legislative Date 3/27/2017 Action Passed Enrolled Proceedings
Chamber Calendar Date Legislative Date Action Text - Enrolled - Insurance - Risk Management and Own Risk and Solvency Assessment Act Proceedings
Chamber Post Passage Calendar Date 4/11/2017 Legislative Date 4/11/2017 Action Approved by the Governor - Chapter 36 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Insurance - Risk Management and Own Risk and Solvency Assessment Act Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	9/22/2016	9/22/2016	Pre-filed
Senate	1/11/2017	1/11/2017	First Reading Finance
			Text - First - Insurance - Risk Management and Own Risk and Solvency Assessment Act
Senate	1/10/2017	1/10/2017	Hearing 1/18 at 1:00 p.m.
			Vote - Senate - Committee - Finance	Click to view Recorded Media
Senate	2/20/2017	2/20/2017	Favorable with Amendments Report by Finance
Senate	2/21/2017	2/21/2017	Favorable with Amendments {277270/1 Adopted	28 Click to view Recorded Media
Senate	2/21/2017	2/21/2017	Second Reading Passed with Amendments	28 Click to view Recorded Media
			Text - Third - Insurance - Risk Management and Own Risk and Solvency Assessment Act
Senate	2/23/2017	2/23/2017	Third Reading Passed (47-0)	30 Click to view Recorded Media
House	2/24/2017	2/24/2017	Referred Economic Matters	33 Click to view Recorded Media
House	3/01/2017	3/01/2017	Hearing 3/22 at 1:00 p.m.
House	3/17/2017	3/17/2017	Hearing canceled
House	3/17/2017	3/17/2017	Hearing 3/23 at 1:00 p.m.
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	3/29/2017	3/29/2017	Favorable with Amendments Report by Economic Matters
House	3/29/2017	3/25/2017	Favorable with Amendments {763791/1 Adopted	59 Click to view Recorded Media
House	3/29/2017	3/25/2017	Second Reading Passed with Amendments	59 Click to view Recorded Media
House	3/30/2017	3/26/2017	Third Reading Passed (136-0)	60 Click to view Recorded Media
Senate	3/31/2017	3/27/2017	Senate Concurs House Amendments	56 Click to view Recorded Media
Senate	3/31/2017	3/27/2017	Third Reading Passed (44-0)	56 Click to view Recorded Media
Senate	3/31/2017	3/27/2017	Passed Enrolled
			Text - Enrolled - Insurance - Risk Management and Own Risk and Solvency Assessment Act
Post Passage	4/11/2017	4/11/2017	Approved by the Governor - Chapter 36
			Text - Chapter - Insurance - Risk Management and Own Risk and Solvency Assessment Act

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Statutes