Final
BILL SUMMARY for HB05-1320

HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR

Votes:
Action Taken:
Moved amendment L.001 (Attachment A). The motion
Moved that HB05-1320 be referred, as amended by L.		Pass Without Objection
PASS



12:20 PM -- House Bill 05-1320

Representative Jahn explained HB05-1320 which changes the conditions for allowing reinsurance to qualify as a credit or a reduction in liability for a domestic ceding insurer. Representative Jahn told the committee that most other states have adopted similar provisions regarding reinsurance and that this bill will make Colorado consistent with the National Association of Insurance Commissioners (NAIC) model legislation.

12:22 PM -- Marsha Cohen, representing the Reinsurance Association of America, testified in favor of the bill. Ms. Cohen testified that the bill will make Colorado's provisions governing reinsurance consistent with the NAIC model, and with most other states that have already approved similar legislation. Ms. Cohen responded to questions from the committee.

12:35 PM -- Julie Hoerner, representing the Division of Insurance, testified in favor of the bill. Ms. Hoerner testified that the division supports the bill.

12:45 PM

Representative Jahn distributed amendment L.001 (Attachment A) and asked the committee to support it. Representative Jahn told the committee that the Division of Insurance had requested the amendment in order to make the proposed language consistent with current law. The amendment includes nonprofit hospitals under the definition of insurer and reinsurer.
BILL:HB05-1320
TIME: 12:45:30 PM
MOVED:Marshall
MOTION:Moved amendment L.001 (Attachment A). The motion passed without objection.
SECONDED:Paccione
VOTE
Balmer
Borodkin
Butcher
Carroll M.
Coleman
Knoedler
Liston
Excused
Massey
McCluskey
Paccione
White
Cerbo
Marshall
Not Final YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection



12:47 PM

Representative Jahn made closing remarks.
BILL:HB05-1320
TIME: 12:48:14 PM
MOVED:Balmer
MOTION:Moved that HB05-1320 be referred, as amended by L.001, to the Committee of the Whole with a favorable recommendation. The motion passed 12-0, with 1 excused.
SECONDED:McCluskey
VOTE
Balmer
Yes
Borodkin
Yes
Butcher
Yes
Carroll M.
Yes
Coleman
Yes
Knoedler
Yes
Liston
Excused
Massey
Yes
McCluskey
Yes
Paccione
Yes
White
Yes
Cerbo
Yes
Marshall
Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS