House Bill 1559
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DIGEST OF INTRODUCED BILL
Funding for the department of insurance. Deposits various insurance filing fees into the department of insurance fund rather than the state general fund. Increases the internal audit fee for domestic and foreign insurers and health maintenance organizations to $1,000. Increases the internal audit fee of other entities from $100 to $250. Provides that each policy, rider, or endorsement filed with the state constitutes an individual filing for purposes of the $35 product filing fee. Imposes a $1,000 cap per filing per insurer for product filing fees. Allows the commissioner of the department of insurance (commissioner) to issue certificates suitable for framing to insurance producers. Provides that insurance producer and limited lines producer license renewal fees are due every two years rather than every four years. Removes the requirement that resident surplus lines producers file a bond with the commissioner. Provides for the deposit of fees paid to the commissioner by health maintenance organizations into the department of insurance fund.
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| ||In Committee - first House|