Transcript Highlights:

• The Committee on Banking and Insurance will now come to order. Amora, please call the roll.
• Basically, what we're doing is... ...electronic insurance or eyewear insurance or both.
• Murphy, Board Association of Insurance Agents, waving in support.
• Greg Black, Satoshi Action Fund, is waving in support.
• Yet the funding structure has not changed.

Bills: S0198, S0570, S0772, S0808, S1038, S1040, S1286, S1440, S1504, S1668

Keywords: virtual currency, kiosks, money services business, regulation, financial services, consumer protection, cryptocurrency, registration, payment scams, task force, fraud prevention, property insurance, roofing requirements, inspector, insurance policies, homeowners insurance, roof age, residential structures, insurance renewal, investment

Summary: The Committee on Banking and Insurance met with a quorum present and took up a series of bills, beginning with SB 1286 by Senator Wright. That bill expands the law enforcement recruitment bonus program to include firefighters, creates a DFS grant review panel for fire-related grants, and establishes an institute for PTSD and first-responder behavioral health. Testimony from fire chiefs and others supported the measure, and the committee reported it favorably. The committee then considered several insurance and financial regulation bills. CS/SB 198 by Senator Rousan, as amended, regulates virtual currency kiosks with transaction limits, notice and receipt requirements, and OFR enforcement authority; witnesses described it as a needed anti-fraud measure, especially for seniors, and it was reported favorably. CS/SB 772 by Senator Burgess, as amended, allows limited licenses for portable electronics and eyewear insurance, and CS/SB 1504 by Senator Claudio, as amended, creates a pathway for high school students to qualify for insurance customer representative licensure; both were reported favorably. The committee also approved two cryptocurrency reserve bills by Senator Gruters: CS/SB 1038 creates the Florida Strategic Cryptocurrency Reserve framework, and CS/SB 1040 creates the related trust fund; both received technical amendments and favorable reports. CS/SB 1440 by Senator Martin, as amended, creates public records exemptions and cybersecurity reporting provisions for financial institutions and related entities, and it was reported favorably. Finally, SB 1668 by Senator Burton, which updates the NICA program’s funding and benefit structure, and CS/SB 570 by Senator Polsky, which creates a task force on payment scams, were both heard with supportive testimony and reported favorably. Senators later recorded additional affirmative votes on selected bills before the committee adjourned.

Transcript Highlights:

• So, yeah, there are funds that are put aside for the state emergency funds the governor has at his or
• Like, they can appropriate or ask for those emergency funds to be applied to this fund as well, or it
• could come out of their state fund emergency fund.
• to use, whether it be a guarantee fund, however you want to look at this.
• The funds are being tied up, and sheriffs want to use these funds for Moving down to line 19 for training

Bills: SB1288, SB1705, SB1878, SB2019, SB2118

Keywords: emergency management, federal funding, disaster relief, cost sharing, public assistance, bail reform, public funds, nonprofit organizations, political subdivisions, injunctive relief, criminal procedure, surety bond, judicial discretion, uniform bond schedule, liability insurance, judgments, insurance fund, Oklahoma, county sheriff, commissary

Transcript Highlights:

• </c><00:08:00.960><c> premiums</c> with homeowners insurance premiums with homeowners insurance premiums
• <00:09:46.399><c> in</c> insurance in insurance in Minnesota<00:09:48.320><c> many</c><00:09:48.600><
• </c><00:10:15.000><c> companies</c> new roof by their insurance companies new roof by their insurance
• </c> conversations about dental insurance conversations about dental insurance mostly<00:25:05.840><c
• </c><01:36:51.280><c> insurance</c> affordable auto insurance insurance affordable auto insurance insurance

Bills: HF2228, HF46, HF856, HF2149, HF2215

Keywords: homeowners insurance, property insurance, commercial property insurance, insurance affordability, insurance market stabilization, reinsurance, catastrophic reinsurance fund, self-insured pool, premium costs, coverage notice, liability reform, climate risk, climate change, housing affordability, multifamily housing, rental housing, common interest communities, cooperatives, small business insurance, Minnesota Commerce Department

Transcript Highlights:

• This specifies that the requirement for an insurer to provide the insured with certain information about
• This is the bill modifying the insurance fraud program administered by the Insurance Commissioner.
• This is named after kind of a pioneer in the insurance industry.
• Oh, no, the insurance industry—sorry, my bills mixed up.
• With this bill we are setting up a Washington Travel Insurance Act, and with this new line of insurance

Bills: SB6178, SB5831

Keywords: SB6178, property insurance, insurance claims, assignment of benefits, AOB, post-loss assignment, post-loss benefits, homeowners insurance, policyholder, insured, restoration contractor, mitigation contractor, public adjuster, insurance commissioner, claims handling, consumer protection, void and unenforceable, Washington insurance code, chapter 48 RCW, civil penalty

Transcript Highlights:

• A property insurer that uses a wildfire risk score for underwriting or rating must provide the insured
• It does this by turning what is the definition of insurance fraud for purposes of the insurance fraud
• It does this by turning what is the definition of insurance fraud for purposes of the insurance fraud
• impact the insurance industry or insurance consumers or beneficiaries beyond insurance fraud to furnish
• Insurance Commissioners' Travel Insurance Model Act.

Bills: SB6178, SB5831

Keywords: SB6178, property insurance, insurance claims, assignment of benefits, AOB, post-loss assignment, post-loss benefits, homeowners insurance, policyholder, insured, restoration contractor, mitigation contractor, public adjuster, insurance commissioner, claims handling, consumer protection, void and unenforceable, Washington insurance code, chapter 48 RCW, civil penalty

Summary: The committee heard public testimony on several insurance and consumer protection bills. On engrossed substitute Senate Bill 5928, staff and supporters described wildfire risk score and model disclosure requirements for homeowners whose policies are nonrenewed, canceled, or adversely affected by wildfire risk, along with insurer website disclosures about mitigation discounts and a process for consumers to request revised scores. The Office of the Insurance Commissioner, AARP, a mayor from Medical Lake, and a fire chief supported the bill as a transparency and consumer protection measure, while industry witnesses said the bill was heavily amended but still too regulatory and potentially costly, and some urged further technical changes. Members asked about how the bill interacts with mitigation efforts, the Fair Plan, and whether it would help consumers understand what actions could improve insurability. The committee also heard engrossed substitute Senate Bill 6031, which would create a standalone Class B felony for insurance fraud, expand the insurance commissioner’s fraud program, require reporting of certain suspected crimes affecting insurance, and address restitution in criminal cases. The Office of the Insurance Commissioner and AARP supported the bill as a response to organized fraud, but a criminal defense representative argued that part of the bill overlaps with existing misdemeanor insurance-claim fraud law and could create conflicting penalties and charging issues. Members asked about the 10-year statute of limitations and how it compares with other crimes. Substitute Senate Bill 6079, a wildfire mitigation grant program, was also heard. The bill would create the Strengthen Washington Homes Program to fund retrofits meeting IBHS wildfire-prepared standards and would bar insurers from using wildfire risk to disqualify properties that meet that standard. The OIC, fire commissioners, the prime sponsor, and AARP supported it as a way to reduce nonrenewals and help homeowners harden their homes, while insurance industry witnesses said they could support the grant program but wanted Section 7 removed because they believed it would interfere with underwriting. The committee also heard substitute Senate Bill 6248 on travel insurance, which would adopt a Washington Travel Insurance Act with licensing, disclosure, tax, and unfair trade practice provisions; the travel insurance industry supported it and said prior amendments had been incorporated. Finally, the committee took testimony on engrossed Senate Bill 5280, which would regulate virtual currency kiosks with daily transaction limits, fee caps, disclosures, receipts, and reporting requirements. The Department of Financial Institutions and the Attorney General’s Office supported the bill as a response to rising crypto-kiosk fraud, especially elder fraud, while some members questioned whether the limits were too restrictive for legitimate users and asked about enforcement, restitution, blockchain analytics, and whether stronger consumer protections should be added. Additional testimony from industry and consumer advocates was invited, but the hearing moved quickly because of the committee’s limited time.

Transcript Highlights:

• First up on the agenda is SCR 118 SD 1, urging the Insurance Division of the Department of Commerce and
• First up is the DCCA Insurance Division with comments.
• The Insurance Division will stand on its written testimony. Thank you.
• First up is the DCCA Insurance Division First up is the DCCA Insurance Division with<00:16:27.160><c>
• :29.280><c> on</c><00:16:29.360><c> its</c> Insurance Division will stand on its Insurance Division will

Bills: SCR118, SCR173

Keywords: climate change, insurance affordability, working group, disaster recovery, fossil fuel companies, insurance stability, Hawaii Hurricane Relief Fund, ticket scalping, task force, consumer protection, event accessibility, local economy, 910, house, all

Summary: The Committee on Consumer Protection heard two resolutions. SCR 118 SD1 would urge the Insurance Division and the Attorney General to convene a working group on climate change impacts on insurance availability and affordability. The Insurance Division deferred to written testimony, while the Attorney General opposed the measure because of an ongoing lawsuit, asking that references to legal recovery and the AG’s role in convening the group be removed. Members questioned how the resolution might relate to the state’s climate damages litigation and whether it could inform damages calculations. The committee later recommended passage with amendments, including removing the Attorney General as co-convener and changing certain membership references to board chairs; the motion passed unanimously with one excused member. The committee also heard SCR 173 SD1, which would create a task force on event ticket scalping. The Office of Consumer Protection supported the concept but asked to be added as a task force member and said the draft left its role unclear. Supporters, including the National Independent Venue Association and D-BAT, described high resale prices, fraudulent or speculative tickets, and harm to consumers and local businesses. StubHub and the Ticket Policy Forum supported the task force but urged broader scope to include the primary ticket market and ticket sellers, and StubHub also sought inclusion on the task force. Members discussed whether the task force should focus on the secondary market or the broader ticketing ecosystem, and whether the Office of Consumer Protection should be part of the task force or only consulted. The vice chair recommended passage with amendments adding the Office of Consumer Protection as a member and clarifying the consultation language, and the committee adopted that recommendation unanimously with one excused member.

Transcript Highlights:

• investment fund that provides revenue for the Land of Enchantment Legacy Fund, from which distributions
• The changes that HB 184 would ensure that the fund will be sustained into the future and allow more funding
• It made several changes to the structure of that fund...” “That fund.
• The Public Project Revolving Fund provides stable, consistent funding that is not reliant on the general
• fund.

Bills: HB63, HB64, HB184, HB200, HB47, HB48, HB2, HB9

Keywords: water project fund, New Mexico Finance Authority, NMFA, Water Trust Board, water infrastructure, wastewater, drinking water, flood prevention, watershed restoration, water storage, conveyance, delivery, water treatment, recycling, reuse, municipal infrastructure, local government finance, capital outlay, grants, loans

Transcript Highlights:

• Welcome to Business and Insurance.
• I mean, that is the contention that I've heard from insurance companies.
• And I get a discount through the insurance program that I use with my optometrist.
• The insurance commissioner has been involved all the way back in 24.
• That concludes business and insurance.

Bills: SB1303, SB1343, SB1435, SB1438, SB1444, SB1641, SB1765, SB1916, SB2067

Keywords: workers' compensation, workers comp, Oklahoma Workers' Compensation Commission, Administrative Workers' Compensation Act, self-insurance guaranty fund, multiple injury trust fund, physician advisory committee, advisory council on workers' compensation, workers' compensation court, insurance, employer liability, self-insured employer, fund transfer, records transfer, agency reorganization, statutory cleanup, technical corrections, Title 85A, SB1343, Vision Plan Contractual Requirements Act

Transcript Highlights:

• The program is funded through a premium paid by employers and employees, and the total premium rate is
• And this keeps the funding out of our budget problems that we have currently.
• I think the new rate-setting model is better for keeping the program within its funding needs, but I
• Eventually, the fund could be unable to meet these conditions with the current rate cap and these new
• This is a problem not only for workers incurring overpayments, but also for the UI Trust Fund.

Bills: SB6134, SB6136, SB6188

Keywords: unemployment insurance, UI benefits, striking workers, strike, labor dispute, retroactive wages, overpayment assessment, overpayment recovery, Employment Security Department, ESD, claimant notice, benefit recoupment, Washington unemployment law, worker notice, federal unemployment tax credit, state unemployment fund, workers' compensation, industrial insurance, premium rates, rate transparency

Summary: The Labor and Workplace Standards Committee held public hearings on several labor-related bills. Senate Bill 6197 would change plumbing license suspension standards from three violations in three years to five violations in five years, remove the requirement that the Advisory Board of Plumbers recommend suspension, and require L&I enforcement updates; the sponsor and industry witnesses said the revised version was stakeholder-supported, though some wanted clarification about how prior infractions would be treated. Senate Bill 6134 would require the Employment Security Department to notify striking workers applying for unemployment benefits that they may later owe overpayments if they receive retroactive wages; testimony generally supported the bill as a safeguard. Senate Bill 5292 would replace the PFML program’s statutory look-back premium formula with a forward-looking actuarial rate-setting method while keeping the 1.2% cap; labor, business, and advisory board witnesses supported it, while one policy witness supported the rate-setting change but opposed the added four-month reserve requirement. Senate Bill 6106 would amend the state WARN-style layoff notice law to exempt tribes and protect employee names and addresses from public disclosure; ESD and business supported the privacy and tribal-government changes, while agricultural witnesses asked for a separate seasonal agriculture fix. The committee also heard testimony on SB 6197 from plumbing industry groups, with support for stronger enforcement but disagreement over retroactive treatment of infractions. In executive session, the committee acted on six bills. It adopted amendments and reported out Engrossed Second Substitute Senate Bill 5847, which expands access to medical care in workers’ compensation, including allowing some out-of-network attending providers and authorizing additional claims managers; the bill passed 7-2. Substitute Senate Bill 6014, a cleanup bill correcting a date typo and protecting sensitive L&I records from public disclosure, passed unanimously. Substitute Senate Bill 6039, allowing L&I to use electronic communications while preserving a non-electronic option, also passed unanimously. Engrossed Senate Bill 6058, giving L&I discretion to prioritize wage complaints, passed unanimously after a clarifying amendment. Senate Bill 6136, requiring publication of actuarial indicated workers’ compensation rates and disclosure when rates are set below those levels, passed unanimously. Senate Bill 6188, which would expand L&I’s asbestos rulemaking authority, passed 6-3 after the committee rejected an amendment that would have restored current-law limits and tied rules to the EPA model plan.

Transcript Highlights:

• We really need to recognize that the state needs to fully fund this to an appropriate level, because
• This is not State General Fund money.
• No impact to the State General Fund. No, sir. Okay.
• The actual fund is for payment of cleanup sites for the state.
• Any money over that $6 million rolls into our ETF fund and then it pays for staff and stuff.

Bills: HB27, HB143, HB205, HB308, HB311, HB417, HB430, HB562, HB812, HB1129

Keywords: inmates, department of public safety, per diem, local correctional facilities, jail funding, insurance premiums, Municipal Fire and Police, dedicated fund, assessments, Louisiana legislation, hazardous waste, cleanup fund, environmental protection, state treasury, Consumer Price Index, law enforcement, firefighters, health insurance, survivors benefits, Lafayette

Transcript Highlights:

• So that's how money goes into the fund. How would money go out of the fund?
• </c> restitution fund? restitution fund?
• How would money go out of the fund. How would money go out of the fund?
• </c> fund?
• Money can only go out of the fund fund?

Bills: HF1392, HF2233, HF695, HF2228, HF1289

Keywords: consumer protection, restitution, attorney general, consumer enforcement, unclaimed funds, victim compensation, settlement funds, special revenue fund, general fund, restitution account, consumer fraud, state treasury, eligible consumers, distribution of funds, tax subtraction, income tax, refund, unpaid compensation, Minnesota Department of Revenue, consumer redress

Transcript Highlights:

• I think the retirement system is like 68% funded now.
• But that funding will drop a little bit.
• Over that period, they weren't funded to RSA.
• Of course, when things went south in 2008 and 2010, the funding liability represented...
• The funding liability represented...

Bills: SB45, SB73, SB169, HB243, SB177

Keywords: athlete agents, commission, state regulation, Alabama, higher education, athletics, membership diversity, catastrophe savings account, catastrophe fund, storm savings, disaster savings, hurricane, windstorm, floodwaters, hail, tornado, property insurance, homeowners insurance, insurance deductible, FORTIFIED

Transcript Highlights:

• on their insurance, and it's already the law, but there's no teeth to that.
• We want you to also just tell us if you have private insurance and how... ...if you have private insurance
• third-party insurance.
• If you have private insurance that will not put you at or below poverty, then you will get private insurance
• So does the child or children have insurance for that year?

Bills: HB37, HB187, HB177, SB63, HB82, SB48, HB33, HB37, HB33

Keywords: judicial compensation, salary increase, court system, Alabama legislation, judges, HB187, court fees, docket fee, sheriff's fund, sheriff's office, jail operations, law enforcement, county sheriff, court filing fees, Alabama Code 12-19-312, solicitor's fund, clerk's fund, forensic services trust fund, budget flexibility, public safety

Transcript Highlights:

• The legislature funded a feasibility study last session. and the results are clear.
• First, secure funding commitments, then get the Coordinating Board's nod and ABA accreditation, and open
• Two years ago the legislature funded a feasibility study and you have in front of you the results of
• We're not doing this for money, we just need help with funding.
• We're not going to get out of the big fund because of the competition.

Bills: HB232

Keywords: disaster recovery, natural disaster, weather disaster, emergency relief, flood relief, hurricane relief, storm damage, wildfire, tornado, hail, windstorm, extreme heat, ice storm, snowstorm, property damage, personal injury, temporary housing, relocation assistance, lost wages, state emergency management

Transcript Highlights:

• The legislature funded a feasibility study last session, and the results are clear.
• same high standards as other Texas law schools, and we explicitly allow partnerships, gifts, uh, to fund
• If we secure fund, if we secure funding commitments in the next 12 to 18 months, a formal proposal to
• Two years ago, the legislature funded a feasibility study and you have in front of you the results of
• We just need help with funding.

Bills: HB232

Keywords: disaster recovery, natural disaster, weather disaster, emergency relief, flood relief, hurricane relief, storm damage, wildfire, tornado, hail, windstorm, extreme heat, ice storm, snowstorm, property damage, personal injury, temporary housing, relocation assistance, lost wages, state emergency management

Transcript Highlights:

• And finally, SB 158 requires insurers to submit an annual report to the Office of Insurance Regulation
• I am the CEO of Breit Fund.
• fund for them.
• It also streamlines the department's ability to purchase insurance, reinsurance, and excess insurance
• unclaimed property trust fund and funds transferred to the state trust fund.

Bills: S0158, S0314, S0618, S0684, S0838, S0990, S1000, S1082, S1452, S1494, S1500, S1568, S1706

Keywords: pet insurance, consumer protection, insurance regulation, policy disclosure, agent training, payment stablecoin, financial regulation, anti-money laundering, state oversight, digital currency, financial services, workers compensation, Florida statute, commercial insurance, insurance board, electronic signatures, vehicle titles, insurance regulations, auditing, total loss vehicles

Summary: The Banking and Insurance Committee heard and advanced a wide range of insurance, financial services, and probate bills. Early in the meeting, SB 1000 on trust fund interest for attorney trust accounts was explained as setting a floor and ceiling tied to the Wall Street Journal prime rate and was reported favorably. The committee then took up CS/SB 1082 on a statewide provider and health plan claim dispute resolution program for emergency out-of-network claims. After extensive discussion about the relationship between the state and federal No Surprises Act processes, an amendment was withdrawn due to concerns about clarity and scope, but the bill itself was supported by providers and insurers and was reported favorably. The committee also approved SB 684 on electronic signatures for total loss vehicles and vessels, CS/SB 158 on pet insurance consumer disclosures and agent education, SB 1494 expanding breast cancer screening coverage, CS/SB 314 on digital assets and stablecoin issuers, and CS/SB 1500 on uncontested probate procedures and small-estate administration. SB 618 on workers’ compensation insurance was amended to raise the consent-to-rate cap for workers’ compensation policies from 10% to 20% and then reported favorably, with supporters saying it would help keep higher-risk employers in the voluntary market. CS/SB 1568 creating a Florida Stablecoin Pilot Program was amended to remove authority for a Florida coin and limit the program to existing stablecoins, then passed. Later, the committee approved CS/SB 838 on electronic payment convenience fees for retail installment contracts, with the sponsor emphasizing that a fee-free payment option must still be offered. SB 1452, the Department of Financial Services agency bill, was amended and reported favorably; it covered My Safe Florida Home administration, insurance and licensing changes, unclaimed property updates, and other DFS-related provisions. The committee also passed SB 1706 on the My Safe Florida Condominium Pilot Program, targeting owner-occupied condominiums at or below 80% of area median income, and SB 990 on protected cell captive insurance companies, which supporters said would modernize Florida’s captive insurance laws and encourage more competition. The meeting ended with all listed bills reported favorably and the committee adjourned.

Transcript Highlights:

• Many of the major insurers of churches... insurers like Church Mutual, Brotherhood Mutual, and GuideOne
• They were told their insurance policy wasn't going to be renewed because their insurer wasn't writing
• Insurance costs from 2023 to 2024 for the Cowboy Church have covered. $35,000 to insurance companies.
• Their insurance companies...
• This bill doesn't create any new types of insurance or eliminate insurance.

Bills: HB778, HB 1266, HB1576, HB2213, HB2517, HB2518, HB2841, HB3306, HB3320, HB3388, HB3508, HB3520, HB3689

Keywords: credentialing, healthcare, physician assistants, advanced practice nurses, managed care, hurricane, windstorm, loss mitigation, grants, insurance discounts, property retrofitting, insurance, Texas Windstorm Insurance Association, board composition, coastal counties, property insurance, taxation, Texas FAIR Plan Association, premium taxes, maintenance taxes

Transcript Highlights:

• These funds are then repaid.
• I represent the Texas Coalition for Affordable Insurance Solutions. Insurance solutions.
• That funding program can fund up to a billion dollars through the sale of public securities in three
• The second is the funding mechanism that the insurance industry and we have been able to come up with
• The insured is our client, and the insurance carrier is our trading partner.

Bills: HB778, HB 1266, HB1576, HB2213, HB2517, HB2518, HB2841, HB3306, HB3320, HB3388, HB3508, HB3520, HB3689

Keywords: credentialing, healthcare, physician assistants, advanced practice nurses, managed care, hurricane, windstorm, loss mitigation, grants, insurance discounts, property retrofitting, insurance, Texas Windstorm Insurance Association, board composition, coastal counties, property insurance, taxation, Texas FAIR Plan Association, premium taxes, maintenance taxes

Transcript Highlights:

• it tightens up the method of how we calculate the money that goes into the 780-781 Community Safety Fund
• Did you also include the fact that the legislature must fund these grants according to the identified
• them deal... ...to go back to counties to help them deal with the issues that they have not been funded

Bills: HB4284, HB1250, HB4190, HB3086

Keywords: animal abuse, offender registry, public safety, animal welfare, criminal justice, Oklahoma legislation, local law enforcement, Public Safety Technology Revolving Fund, grants, state funding, law enforcement technology, cyber crime, fraud prevention, Oklahoma State Bureau of Investigation, insurance fee, digital forensics, investigative support, revolving fund, prisons, corrections

Transcript Highlights:

• For a four-year period, that is a delta of more than $100,000. is primarily paid by our state funding
• thank you for staying to give your testimony and I want to ask, do you think taking away this DACA fund
• This is a system all students and their parents pay into by way of local, state, and federal funding.
• Vote no on HB 232 and keep funding and supporting Texas students who can. continue to help Texas grow
• I'm here representing myself and Children's Defense Fund Texas, and I'm opposing the bill.

Bills: HB232

Keywords: disaster recovery, natural disaster, weather disaster, emergency relief, flood relief, hurricane relief, storm damage, wildfire, tornado, hail, windstorm, extreme heat, ice storm, snowstorm, property damage, personal injury, temporary housing, relocation assistance, lost wages, state emergency management