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s_blt_2017a_2017-04-17t14:03:51z0 Hearing Summary

Date: 04/17/2017

Location: SCR 354

Final

BILL SUMMARY for SB17-274



SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGY


Votes: View--> Action Taken:
Refer Senate Bill 17-274 to the Committee of the W PASS







02:04 PM -- SB 17-274



Senator Holbert introduced Senate Bill 17-274, concerning an authorization for nonadmitted insurers to offer disability insurance as a type of surplus lines insurance. The bill allows nonadmitted insurers to offer disability insurance as a type of surplus lines insurance. The bill defines disability insurance as insurance that is in excess of policy limits available under a policy issued by an admitted insurer, provides income replacement to an insured who becomes disabled while covered by the policy, and does not provide coverage for the diagnosis or treatment of an insured person's disability.





02:08 PM --
Thomas Peterson, Peterson International Underwriters, spoke in favor of the bill. He responded to questions from the committee.


BILL: SB17-274
TIME: 02:20:43 PM
MOVED: Neville T.
MOTION: Refer Senate Bill 17-274 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Jahn
Yes
Kefalas
Yes
Priola
Excused
Smallwood
Yes
Williams A.
Excused
Neville T.
Yes
Tate
Yes
Final YES: 5 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS














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