Video & Transcript Research : 'Texas Insurance Code'

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ND
Transcript Highlights:
  • North Dakota Century Code 57-20.04-2 requires a report to be provided by the county auditor reporting
  • Texas and New Mexico certainly stand out.
  • They are already subject to, if they levy more than what Century Code allows, they have a $1,000 fine
  • and 30 days in prison in Century Code already.
  • And kind of a dark horse when comparing Texas and Florida. and kind of a dark horse when comparing Texas
Summary: The Tax Reform and Relief Advisory Committee met with a quorum, approved the March 17, 2026 minutes, and heard a lengthy update from Tax Commissioner Brian Croshys on property tax relief programs. He reviewed the Homestead Property Tax Credit, Disabled Veteran Credit, and Primary Residence Credit, noting increased relief after House Bill 1158 and House Bill 1176, but also discussing how some households “income adjust out” of eligibility over time. Members asked about indexing income thresholds, expanding eligibility by age alone, simplifying administration, county-level notices, and whether the county and state systems could be streamlined. Croshys said the programs are heavily used, largely administered at the county level, and that the department is still refining compliance and reporting; he also said there were no material findings or overarching concerns in the latest review. The committee agreed more detailed PRC information would likely come back in a September meeting, and the chair announced an afternoon recess for lunch before later reconvening. Shelly Myers then presented the statewide property tax increase report, the zero-growth report, and a statistical report on property values and tax levies by class. She explained how county auditors report levy and valuation data, how increases and decreases are counted, and identified counties and cities with the largest percentage changes in growth or decline. She also summarized recent trends: agricultural values remain relatively flat, while residential, commercial, and centrally assessed values have risen over the last five years; in 2025, residential property accounted for the largest share of statewide property tax levies, followed by commercial, agriculture, and centrally assessed property. Committee members asked about unusual zero-growth figures, the effect of annexation and land-use changes, and whether the 3% levy cap was forcing political subdivisions to use reserves or defer spending. Myers said many counties complied by using reserves, delaying capital projects, or limiting increases, and that some counties had not used their full cap. The committee then moved to the stripper oil extraction tax exemption. Commissioner Croshys reviewed the state’s oil tax structure and estimated the revenue impact of keeping stripper wells exempt from extraction tax while still paying production tax. He said the exemption saves operators hundreds of millions of dollars over a biennium, while the state still collects production tax on those wells. He also discussed projected impacts if the exemption were changed for future wells and noted that future outcomes depend on oil prices, production declines, and technology such as CO2 enhanced oil recovery. Nathan Anderson of the Department of Mineral Resources briefly explained the historical difference between the 35-barrel and 30-barrel thresholds for certain wells, citing differences in completion costs and lateral lengths. The committee then heard from EERC CEO Charles Gorecki, who presented an analysis of oil well life cycles and said most oil is produced before wells reach stripper status, but that refracturing or other reinvestment can significantly extend production and keep wells above the threshold for years.
MO

Missouri 2026 Regular Session

2026 Legislative Session - Day Fifty Five - Tuesday, April 21

Missouri House Floor Meeting

Transcript Highlights:
  • or any other state in the union—by being able to Tennessee or Texas or any other state in the union,
  • Why do we have a tax code 100 years old? Why are we losing population, GDP, and our youth?
  • Missouri's tax code was built for a different economy, one that focused heavily on goods and far less
  • The issue at hand here is competitiveness, and competitiveness starts with our tax code.
  • Competitiveness starts with our tax code. Missouri's tax structure must evolve. Mr.
Summary: The House began with prayer, the Pledge of Allegiance, approval of the prior day’s journal by roll call vote (117-5), and a long series of guest introductions, including school groups, YouthBuild students, sorority members, interns, and former legislators. The chamber then moved to third reading business and took up House Committee Substitute for House Bills 3283 and 3306. The sponsor explained the bill needed to be sent back for legislative review because of possible conflict with current case law involving arbitration and municipal authority. The House agreed to reconsider and then committed the substitute to the Committee on Legislative Review by recorded votes of 99-43 and 98-43, respectively. The House next considered House Committee Substitute for Senate Bill 982, which revises Missouri’s sex offender registry system. The sponsor said the bill responds to concerns raised after the 2018 registry overhaul and litigation, and would move Missouri from a hybrid system to a clearer tier-based structure, standardize registration requirements, address out-of-state offenders, and include related provisions on civil commitment housing, name changes, and carnival employees. Members asked whether the bill would allow offenders to petition off the registry; the sponsor said it would streamline removal for those who meet tier requirements and align the state system more closely with federal SORNA standards. The House adopted the committee substitute and passed the bill 141-4. The chamber then debated House Joint Resolutions 173 and 174, which would send to voters a constitutional change aimed at eliminating the state income tax over time and shifting Missouri toward a broader consumption-tax model. Supporters argued the proposal would improve economic competitiveness, attract businesses and residents, give taxpayers more control, and reduce reliance on income taxes that they described as burdensome to working families. Opponents argued it would shift costs onto lower- and middle-income Missourians, seniors, and people on fixed incomes, and warned it could raise sales taxes and reduce funding for schools, health care, and other services. No final vote on the resolution was taken in the portion provided.
OK

Oklahoma 2026 Regular Session

Senate Legislative Session May 5th, 2026 at 09:30 am

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • research at the Oklahoma City Veterans Hospital, after earning his doctorate from the University of Texas
  • Title 36 is now exempt, and title 36 had to do with insurance code and regulations for premium rates,
  • This is not an insurance policy; it's more like a home warranty for somebody that dies 75 miles away
  • President, the codes formerly the codes that applied for this, the types of business that applied for
  • It also requires a measure that requires no report if both parties agree to just exchange insurance.
TX

Texas 89th 2nd C.S.

Insurance Apr 23rd, 2025

Insurance

Transcript Highlights:
  • and predictable for Texas insurers.
  • I am licensed by the Texas Department of Insurance and other state Departments of Insurance as a public
  • The Texas Office of Public Insurance Council report for the '88 Texas Legislative Regulation one was
  • The Texas Department of Insurance on their website advised the insured to seek appraisal before filing
  • Today's Texas Department of Insurance suggests the insured check their policy to see if it has a right
LA
Transcript Highlights:
  • can't compete with Florida and Texas on, and the reason being because we're Louisiana and Texas.
  • This is not regular insurance. It's not private insurance. We're dictating what they have to do.
  • But based on what we believe to be true, the insurance companies are actually funding Texas ODG, not
  • “Because Texas is where we do not want to go. Texas is an opt-out state.
  • I'm not trying to adopt Texas ODG. I'm trying to adopt ODG by MCG. Why do we need Texas?
Summary: The House Labor and Industrial Relations Committee met on May 7, 2026, and first deferred several measures, including House Bill 460, Senate Bill 322, Senate Bill 32, Senate Bill 22, and House Bill 561. The committee then took up House Bill 819 by Chairman Cruz, which would replace Louisiana’s current workers’ compensation medical treatment schedule with the Official Disability Guidelines (ODG) by MCG as the primary guideline, while keeping the existing variance and appeal process. Cruz and MCG representative Troy Prevo argued that ODG is more comprehensive, updated more frequently, and used in many states, and said it could reduce delays, disability duration, and costs. Dr. Jason Picard, the state medical director, testified that Louisiana already uses ODG as a secondary reference in many cases because the state schedule lacks coverage for some body parts and treatments, and said the bill would not otherwise change the appeals process or care delivery. Committee members focused heavily on whether the bill would delay care or improve it. Several members questioned the private-company nature of ODG, the $400 annual subscription cost, and whether Louisiana doctors would be forced to rely on an out-of-state guideline. Rep. Glorioso and others raised concerns about preauthorization delays and proposed amendments to create tacit approval when treatment follows the schedule, require payment within 30 days, and make the carrier prove by clear and convincing evidence that care was not medically necessary to challenge it. Chairman Cruz said he was willing to work with those ideas, and the committee also discussed adding an on-ramp or legacy language so current patients would not be disrupted. Opposition testimony came from injured-worker advocates and representatives of medical and labor groups, including Joseph Jola St. and Robin Krumholt. They argued that Louisiana’s current guidelines are already working, that rates have fallen over time, and that the real problem is delay in approval rather than the content of the schedule. They said ODG is overly rigid, cost-driven, and can lead to denials that shift costs to workers, Medicaid, or private health insurance. They urged the committee to keep Louisiana’s existing system and instead adopt tacit approval under current law. The bill was still under discussion at the close of the transcript, with amendments being read and no final vote shown.
FL

Florida 2026 5th Special Session

Health Policy Feb 11th, 2026

Transcript Highlights:
  • The hospitals charge insurance companies $91 for each of those.
  • Total impact is $213,000, of which 50% is covered by private insurers.
  • If you are a capped insurer, the way to make more money is to go to uncapped services.
  • It’s because you’re shifting capped profits in insurance to uncapped profit in service lines.
  • If you are a capped insurer, the way to make more money is to go to uncapped services.
Summary: The committee first heard Senate Bill 1414 by Sen. Polsky on congenital cytomegalovirus (CMV) education. The bill would require the Department of Health, working with medical experts, to create and distribute CMV educational materials to expectant and new parents or caregivers through hospitals, birth centers, and OB/GYN practices. An amendment removed a section that would have required instruction for medical professionals, and the amended bill was reported favorably as a committee substitute. The committee then took up a block of confirmations. Appointees on tabs 2 through 7 were recommended favorably in one vote, and Chavon Harris was separately confirmed as Secretary of the Agency for Health Care Administration after extensive questioning. Senators praised her leadership and experience, while others raised concerns about Medicaid redeterminations, the state’s CORE modernization project, Hope Florida, and a DCF anti-marijuana ad campaign; Harris said she would follow up on some issues and defended the agency’s work on transparency, managed care oversight, and access to care. Her confirmation was recommended favorably, with Sen. Berman noting opposition. Several health-related bills were then heard and advanced. SB 186 by Sen. Garcia expanded epilepsy training requirements for school personnel, including charter school bus drivers, and was reported favorably. SB 902 by Sen. Garcia, after amendments narrowing dental workforce provisions and allowing certain seizure rescue medication delegation to family home health aides, was reported favorably; testimony focused on medical marijuana regulation, practitioner accountability, and concerns about park and child-care proximity restrictions. SB 196 by Sen. Sharif created a uterine fibroid research database with privacy protections and was reported favorably after emotional testimony from a patient and supporters. SB 688 by Sen. Rodriguez would reestablish licensure of naturopathic doctors; it drew both support and skepticism about diagnosis and treatment boundaries, but was reported favorably. SB 1574, Maddie’s Law, would add biliary atresia screening to newborn screening and was strongly supported by parents describing a delayed diagnosis; it was reported favorably. SB 878 on clinical laboratory personnel, SB 1092 on podiatric medicine and certain cellular/tissue-based products, and SB 1032 on medical marijuana registry timelines and veteran fee waivers were also reported favorably, while SB 1032 drew debate over longer renewal/supply periods. The committee then began SB 1760 on Medicaid oversight and program transparency, with the sponsor describing the bill’s creation of a joint legislative oversight committee and a legislative actuary.
FL

Florida 2025 Regular Session

April 2, 2025 - 04:00 PM

Transcript Highlights:
  • Representative Salzman: ...Florida's roads safer and to save money on car insurance by ensuring that
  • Representative, you're recognized to explain Amendment Bar Code 096789.
  • That's because of weather and because of insurance requirements on the boats.
  • They do not have proper insurance.
  • You have to have the name and title of the boat and insurance. So they've just dropped anchor.
MO

Missouri 2026 Regular Session

2026 Legislative Session - Day Fifty Four - Monday, April 20

Missouri House Floor Meeting

Transcript Highlights:
  • Florida, Texas, these states that have growing economies, what have they done?
  • The gentleman from Texas County has offered House Amendment number 17.
  • Gentleman from Texas. Mr.
  • Does the gentleman from Texas yield to an inquiry, and will the gentleman from St.
  • Seeing none, the gentleman from Texas is recognized to close. I renew my motion.
Summary: The House approved the journal from the previous day by a 123-0 vote and then received Senate messages on House Joint Resolutions 173 and 174, along with committee reports recommending passage of several bills and resolutions. The chamber then took up a series of House bills and joint resolutions for concurrence or final passage, with debate focused on a mix of policy and technical changes. Early action included House Bill 2180, which was described as modernizing notice procedures for blind pension recipients by allowing electronic opt-in; it passed both adoption of the Senate substitute and final passage by wide margins. House Bill 1870, dealing with bankruptcy exemptions and garnishment procedures, also received Senate changes, which members described as minor technical corrections, and it was adopted and finally passed. The House rejected the Senate’s changes to House Bill 2596 and voted to send it to conference, while House Bill 1866, concerning peace officer licensing and school protection officers, had its Senate amendments concurred in and then passed finally. House Joint Resolution 115, proposing a constitutional change to extend property tax relief to 100% service-connected disabled veterans and their spouses, drew extensive debate over fairness, Hancock Amendment effects, and possible tax shifts to other property owners; despite opposition, it passed the House 152-2. Other measures passed included House Bill 1736 on use of county park sales tax funds for stormwater and flood mitigation, House Bill 1887 and related bills on AI-related transparency, House Bill 2855 on workers’ compensation assessment rates, House Bill 1906 on quarterly tax payments for certain township collectors, House Bill 2297 on fence responsibilities, House Bill 2142/2058 on the Missouri film program, and House Bill 3004 on hardwood industry/truth-in-advertising issues. The chamber also passed House Bill 2536, which defines male and female by biological sex for certain government-owned or managed multi-occupancy spaces such as restrooms, locker rooms, and dorms, after substantial debate over privacy, safety, enforcement, and impacts on transgender Missourians; it passed 101-48. House Bill 2151, raising income thresholds for a workforce training/“fast-track fix” program, passed 116-32. The final item in the transcript was House Substitute for House Committee Substitute for House Bills 3068 and 3049, a larger package that received multiple amendments, including changes related to plumbing/pipefitting language, civil detention, and child passenger restraint systems; debate on that package was underway when the transcript ended, and no final vote was shown.
WV

West Virginia 2026 Regular Session

Senate in Session Mar 12th, 2026 at 11:34 am

West Virginia Senate Floor Meeting

Transcript Highlights:
  • Isn't that current code?
  • In current code, when you are fined for a traffic violation in the work zone, fines are doubled.
  • President, I urge passage of this bill updating our tax code.
  • The bill also makes technical corrections to existing code.
  • The bill also makes technical corrections to existing code. Mr. President, I urge passage.
Keywords: 994, senate, all
CA

California 2025-2026 Regular Session

Assembly Judiciary Committee Jun 24th, 2025

Transcript Highlights:
  • the HOA as an additional insured.
  • HOA as an additional insured.
  • I just believe we're in an insurance catastrophe in the state expansions of insurance really make it
  • But it's moving the insurance towards the HOA, from the personal insurance side.
  • But this indemnity from the actual person getting insurance, who will be getting insurance, who will
Summary: The committee heard several bills from Senator Umberg and Senator Allen, with testimony from supporters and opponents before roll-call votes were taken once quorum was established. SB 253, the annual State Bar fee bill, would keep fees unchanged while requiring two-year notice for substantial changes to the bar exam, including vendor changes, and returning to an older delivery method for the upcoming exam; it was presented as a response to recent State Bar problems and the February bar exam failure. SB 25, the Pre-Merger Notification Act, would require certain merger parties to provide California’s attorney general the same Hart-Scott-Rodino materials filed federally, so state antitrust review can occur in parallel with federal review; supporters said this would reduce delay and uncertainty, while members questioned whether it would add another layer of review. SB 36 would strengthen price-gouging enforcement after the January 2025 Southern California firestorms by requiring rental-listing platforms to report suspected gouging, expanding consumer and prosecutor remedies, and allowing warrants in housing-related cases; supporters said it would close loopholes, while opponents from business groups raised concerns. All three bills were later approved on roll call, with SB 36 and SB 413 placed on call before final passage and SB 253 and SB 25 moving forward on committee votes. The committee also heard SB 413, which would streamline access to juvenile case files in certain civil cases brought by or on behalf of the youth who is the subject of the file, allowing attorneys to use heavily redacted records without first petitioning the juvenile court. Supporters, including Los Angeles County counsel and county associations, said the current petition process is costly, slow, and routinely granted, creating delays in civil litigation and court congestion. Opponents, including the Youth Law Center, argued the bill would weaken longstanding juvenile confidentiality protections by bypassing judicial review and could expose sensitive information unnecessarily. After discussion about redactions, sealing, and the scope of access, the bill was passed on a do-pass-as-amended vote. Finally, Senator Wahab presented SB 436, which would extend the notice period for nonpayment of rent from three days to 14 days. Supporters, including tenant advocates, legal aid groups, and several local governments, argued the change would reduce unnecessary evictions, give renters more time to obtain assistance or a paycheck, and help prevent homelessness. Opponents, including apartment associations, property owners, and the California Association of Realtors, said the bill would burden landlords, especially small owners, and could unintentionally affect commercial leases; members also raised concerns about repeated late payment and the lack of stronger guardrails. The author said she would work on clarifying commercial coverage and safeguards, and the bill remained under discussion as the hearing continued.
NH

New Hampshire 2025 Regular Session

House Science, Technology and Energy (03/04/2025)

Science, Technology and Energy

Transcript Highlights:
  • , electrical codes, all that I guess would fall under that.
  • Maybe it’s in the codes to mention codes. Okay, thanks.
  • , electrical codes, all that I guess would fall under that.
  • Maybe it’s in the codes to mention codes. Okay, thanks.
  • Maybe it’s in the codes to mention codes. Okay, thanks.
Keywords: 1189, house, all
US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Thursday, June 5, 2025)

US Federal House Floor Meeting

Transcript Highlights:
  • gentleman from Texas is recognized. gentleman from Texas is recognized.
  • Gentleman from Texas reserves. Reserve. Gentleman from Texas reserves.
  • gentleman from Texas is recognized. gentleman from Texas is recognized.
  • The gentleman from Texas, Mr. design. The gentleman from Texas, Mr.
  • Gentle from Texas reserves. The Reserve. Gentle from Texas reserves.
NH

New Hampshire 2025 Regular Session

House Ways and Means (02/12/2025)

Transcript Highlights:
  • <00:48:49.920> the this specific case the IRS code the this specific case the IRS code the
  • > that Internal Revenue code says that Internal Revenue code says that scholarship<00:48:53.000
  • having voice in what is federal tax code having voice in what is federal tax code in<00:50:48.440
  • That insurance policy, just like fire insurance, pays out where the need is.
  • insurance policy and that insurance insurance policy and that insurance policy<04:16:14.119>
Keywords: 928, house, all
Summary: The committee held a public hearing on HB 402, a bill to repeal a provision in RSA 194-F:2 stating that Education Freedom Account (EFA) funds “shall not constitute taxable income” to the parent or student. The bill sponsor argued the current language is misleading because the state cannot determine federal tax liability, and said the bill would simply remove inaccurate tax advice from state law. He cited IRS guidance and prior federal legislation, including a Ted Cruz proposal, to suggest some EFA uses may be taxable under federal law, while others may not, and said the bill could be amended if needed to avoid confusion. Testimony was sharply divided. Py Campbell opposed the bill, arguing it would unfairly single out EFA students and could amount to a tax on education funds, including for self-employed families, and recommended it be voted inexpedient to legislate. Stephen Matthew French, a tax preparer, also opposed the bill, saying IRS Publication 970 already makes clear that scholarship-type payments used for tuition and related expenses are not taxable, and that the bill addresses a problem that does not exist. He warned that adding tax reporting requirements could create administrative costs for families and the program administrator. Bill Ardinger, a tax attorney, supported the repeal of the statutory language, saying the state should not place potentially incorrect tax advice into law. He explained that under federal tax law, only certain scholarship-like uses are exempt, while many EFA-eligible expenses may not be, especially for families using the program for homeschooling or other nontraditional expenses. He said the current statute could mislead families into thinking all EFA payments are tax-free and could expose the state to future legal problems. The hearing ended after questions from committee members; no vote or final action was taken in the transcript.
TX

Texas 89th Regular

89th Legislative Session Mar 12th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • to Texas and in celebrating Texas Tech University System Day at the state capitol.
  • Texas Capitol to celebrate South Texas ISD Day.
  • Texas public education. Join me, members, and welcome South Texas ISD to their Texas. House.
  • and and its Texas children.
  • HB 1649 by Kane relating to the availability of certain insurance from self-insurance trusts or health
Keywords: 1184, house, all
MN

Minnesota 2025-2026 Regular Session

Senate Floor Session - 05/11/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • 01:49:59.920> insurance sold insurance and read insurance sold insurance and read insurance contracts
  • I'm not an insurance expert.
  • I'm not an insurance expert.
  • camp in Texas, which happened, Mr. camp in Texas, which happened, Mr.
  • . code. code.
Keywords: 1187, senate, all
CA

California 2025-2026 Regular Session

Senate Energy, Utilities and Communications Committee Apr 21st, 2026

Energy, Utilities and Communications

Transcript Highlights:
  • Longer having a building code requirement. I want to put you on the spot.
  • Well, like I said, I've seen some of the results on the insurance.
  • Well, like I said, I've seen some of the results on the insurance side.
  • It does not require Public Utilities Code Section 851.
  • So in our valuation case, that is under Public Utilities Code Section 1400.
Summary: The committee heard several energy, water, and utility bills. SB 919 by Senator Grayson would extend the biomethane monetary incentive program through 2030 and authorize additional funding to support renewable natural gas projects by reducing interconnection costs. Supporters said high interconnection costs and the current tax treatment are major barriers to methane reduction projects; opponents, including TURN and environmental groups, raised ratepayer cost concerns and objected to rate-basing and additional public funding. The author said amended language would remove the rate-basing provisions and instead urge the CPUC to act quickly on its pending decision. SB 931 by Senator Laird would reauthorize the Community Impact Mitigation Program for the Diablo Canyon plant through 2030 to continue funding local emergency preparedness, fire protection, public safety, and school district costs. The County of San Luis Obispo and labor groups supported the bill, while TURN opposed it as a statewide ratepayer subsidy that could be funded from existing PG&E revenues instead of higher rates. Members discussed the bill in the context of the 2022 Diablo Canyon extension deal and the possibility of a future longer extension. SB 1215 by Senator Cortese would direct the CPUC to set deployment targets for EV charging in multifamily housing and evaluate progress, with amendments aimed at affordability and limiting system upgrade costs. Supporters said renters are largely locked out of home charging and that prior utility programs proved cost-effective; no opposition testified. SB 1359 by Senator Stern would require more deliberate CPUC review before major gas system investments, emphasizing electrification and non-pipeline alternatives. Gas utilities and several industry groups opposed it, arguing it could undermine the obligation to serve, create safety and reliability risks, and change the regulatory compact. The committee also heard SB 1125 by Senator Menjivar, presented by Senator Gonzalez, which would establish a statewide low-income water rate assistance program upon appropriation. Water agencies, environmental groups, and local governments supported the measure, while one member expressed concern that it lacked a funding source and could not overcome Proposition 218 limits; the bill was moved to Appropriations and the roll was left open. Finally, SB 1098 by Senator Perez would restrict the use of long-running memorandum and balancing accounts by investor-owned utilities, require exceptional circumstances for new accounts, and add sunset and cost-sharing requirements. Consumer advocates and large energy users supported tighter oversight, while the utilities and business groups opposed the bill as too rigid and potentially harmful to flexibility for wildfire, emergency, and safety-related costs.
NH

New Hampshire 2026 Regular Session

House Session (06/04/2026)

New Hampshire House Floor Meeting

Transcript Highlights:
  • roads of unlimited lengths, as permitted by section 1141 of the National Fire Protection Association code
  • Importantly, this is a section of code which the state of New Hampshire has not adopted.
  • It is primarily an insurance bill, requested by the New Hampshire Insurance Department, and it receives
  • by the New insurance bill uh requested by the New Hampshire<01:56:25.040> Insurance<01:56:25.520
  • costs, unpredictable health insurance costs, unpredictable health insurance premiums,<02:38:24.800
Keywords: 1189, house, all
AZ

Arizona 2026 Regular Session

01/28/2026 - House Judiciary

Judiciary

Transcript Highlights:
  • So Texas has actually taken some stands on this.
  • So Texas has actually taken some stands on this.
  • For example, in February of 2024, there was a Texas attorney that actually pled guilty to spiking his
  • As was mentioned earlier, this bill does borrow language from Texas.
  • The insurance aspect? Schools versus individuals’ responsibility?
FL

Florida 2025 Regular Session

March 20, 2025 - 02:00 PM

Transcript Highlights:
  • For individuals, it was disability insurance, homeowners insurance, and health insurance.
  • It's a trade association of national insurers that write both auto and property insurance.
  • Let's say the insured decides to sue the insurance company and is seeking $100,000 in damages.
  • The insured says, I want $500,000 to settle. And the insurer says, I'll pay you $100,000.
  • And the insured collects $101,000.
Summary: The committee met to hear five banking and insurance-related bills. HB 1549, an Office of Financial Regulation agency bill to help more efficiently regulate financial institutions, was amended to match Senate companion language and then passed unanimously. HB 1231 would extend physician payment and prior-authorization protections similar to a prior dental law, including limits on virtual credit card payments as the sole payment method; physicians and medical groups supported it as a way to reduce fees and retroactive denials, while insurers were not heard in opposition, and the bill passed unanimously. The committee then heard HB 999, which would make gold and silver legal tender and allow transactions in bullion through electronic debit mechanisms. The sponsor and several proponents framed it as an inflation hedge and economic freedom measure, while questions focused on definitions, transaction costs, and vendor participation. The bill passed on a mostly party-line vote, with one member voting no. The committee also approved HM 4363, a memorial urging Congress to establish a sovereign wealth fund; the sponsor described it as a way to steward national wealth, and the memorial passed with one dissenting vote. Finally, the committee took up HB 1551, which would create a prevailing-party attorney fee framework in insurance contract disputes. The sponsor argued it would restore balance, deter meritless litigation, and help consumers with valid claims recover fees, while insurers, business groups, and defense attorneys warned it would revive one-way fee shifting, increase litigation, and raise premiums. Consumer advocates and some members supported it as necessary to give policyholders meaningful recourse. After debate, the bill passed favorably, with one member voting no.