Date: 03/11/2014
Final
BILL SUMMARY for SB14-137
HOUSE COMMITTEE ON BUSINESS, LABOR, ECONOMIC, & WORKFORCE DEVELOPMENT
| Votes: View--> | Action Taken: |
| Refer Senate Bill 14-137 to the Committee of the W | PASS |
01:36 PM -- SB 14-137
Representative Williams, chair, called the committee to order. A quorum was present. Representative McNulty presented Senate Bill 14-137, concerning certification of workers' compensation insurance forms. Under current law, any policy of insurance or any endorsement, rider, letter, or other document affecting a workers' compensation carrier must receive pre-approval from the Commissioner of Insurance within the Department of Regulatory Agencies (DORA) before taking effect. This bill allows workers' compensation carriers to file an annual report to the Division of Insurance (DOI) in the DORA listing any policy documents affecting an insurance policy or contract. The commissioner will create standardized reporting guidelines. Workers' compensation carriers must also submit a list of any new policy forms or other documents at least 31 days before the change is enacted. All annual reports and lists submitted to the DOI must be certified by an officer of the carrier. The DOI may investigate workers' compensation carriers at its discretion to confirm that forms and documents used by the workers' compensation carrier comply with the requirements in this bill. A workers' compensation insurance carrier whose policy documents fail to comply with statutory mandates commits an unfair method of competition or deceptive trade practice.
Representative McNulty distributed a fact sheet to the committee (Attachment A). Only one witness had signed up for questions, and the committee had none.
140311 AttachA.pdf
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| BILL: | SB14-137 | |
| TIME: | 01:37:48 PM |
| MOVED: | Kraft-Tharp |
| MOTION: | Refer Senate Bill 14-137 to the Committee of the Whole. The motion passed on a vote of 11-0. |
| SECONDED: | Ryden |
| 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 |