Date: 02/20/2014

Final
BILL SUMMARY for HB14-1082

HOUSE COMMITTEE ON BUSINESS, LABOR, ECONOMIC, & WORKFORCE DEVELOPMENT

Votes: View--> Action Taken:
Adopt amendment L.002. The motion passed without o
Adopt amendment L.003. The motion passed without o
Refer House Bill 14-1082, as amended, to the Commi		Pass Without Objection
Pass Without Objection
PASS



01:42 PM -- HB 14-1082

Representative Lee, sponsor, presented House Bill 14-1082, concerning a requirement for a written notice of cancellation of individual life insurance policies. The bill clarifies that a life insurance policy can only be cancelled for reasons specified by statute. At least 30 days prior to the cancellation, the insurer must send a written notice to the policyholder's last known address by registered or certified mail, and retain proof of receipt for five years. Alternately, if a policyholder has consented to receive policy information electronically, the insurer can send the cancellation notice to the policyholder's last known e-mail address. The insurer must maintain proof that the notice was sent electronically for 5 years.

Representative Lee distributed and discussed two amendments, Amendment L.002 (Attachment A) and Amendment L.003 (Attachment B). Representative Lee responded to questions from committee on the nature of the bill and the amendments.

140220 AttachA.pdf140220 AttachA.pdf140220 AttachB.pdf140220 AttachB.pdf

The following people testified:

01:48 PM -- Jim Hall, representing the American Council of Life Insurers (ACLI), testified in support of the bill. Mr. Hall stated that ACLI supports the bill as amended. Mr. Hall responded to a question from the committee.

01:54 PM -- Jo Donlin and Dayle Axman, representing the Division of Insurance in the Department of Regulatory Agencies (DORA), testified in support of the bill. Ms. Donlin discussed the division's concerns with the original bill's certified mail requirement, and stated DORA's support for the bill as amended.
BILL:HB14-1082
TIME: 01:56:40 PM
MOVED:Ryden
MOTION:Adopt amendment L.003. The motion passed without objection.
SECONDED:Hamner
VOTE
Exum
Hamner
Holbert
Navarro
Nordberg
Rosenthal
Ryden
Szabo
Wright
Kraft-Tharp
Williams
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB14-1082
TIME: 01:57:43 PM
MOVED:Kraft-Tharp
MOTION:Adopt amendment L.002. The motion passed without objection.
SECONDED:Hamner
VOTE
Exum
Hamner
Holbert
Navarro
Nordberg
Rosenthal
Ryden
Szabo
Wright
Kraft-Tharp
Williams
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection



01:59 PM

Representative Lee made closing remarks.

BILL:HB14-1082
TIME: 02:00:27 PM
MOVED:Kraft-Tharp
MOTION:Refer House Bill 14-1082, as amended, to the Committee of the Whole. The motion passed on a vote of 11-0.
SECONDED:Hamner
VOTE
Exum
Yes
Hamner
Yes
Holbert
Yes
Navarro
Yes
Nordberg
Yes
Rosenthal
Yes
Ryden
Yes
Szabo
Yes
Wright
Yes
Kraft-Tharp
Yes
Williams
Yes
Final YES: 11 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS



2:00 PM

The committee took a brief recess.