Continuing and updating Board of Risk and Insurance Management
Impact
By amending §29-12-3 of the Code of West Virginia, SB685 establishes clearer guidelines concerning the appointment and terms of board members. The new terms set specific end dates for member appointments, following a structured timeline that will facilitate continuity in governance. The reestablishment of the board is expected to provide a more cohesive approach towards risk management, aligning with the overall objectives of the state's insurance policy framework.
Summary
Senate Bill 685 aims to formally continue and update the State Board of Risk and Insurance Management in West Virginia. The bill revises the composition and qualifications for board members, requiring that members appointed by the Governor must have at least ten years of experience in the insurance industry. This restructuring is designed to enhance the board's effectiveness in managing state risk and ensuring that appointments are made in a manner that reflects both expertise and regional representation, as certain appointments will derive from suggestions made by legislative leaders.
Sentiment
Overall sentiment surrounding SB685 appears to be mostly positive among stakeholders who advocate for stronger oversight in the insurance sector. Supporters argue that updated membership qualifications will lead to better decision-making and protective measures for the state's interests. However, there may be some criticisms aimed at the perceived lack of inclusiveness in the selection process, as the bill could be seen as limiting appointments strictly based on qualifications rather than a broader representation of community interests.
Contention
A point of contention that may arise is the balance of power between the Governor and the legislative bodies regarding board appointments. The bill suggests a significant influence of the Governor in appointing board members while still requiring Senate confirmation. This duality may lead to discussions on whether the board operates fairly and represents the diverse perspectives of West Virginia residents in risk management decisions. Notably, the bill's provisions related to the removal of board members and their terms could also spark debate among lawmakers and constituents regarding governance stability.
Relating to liability or other insurance coverage provided by the Board of Risk and Insurance Management to any entity for which such coverage is permissive under state code
Relating to authorizing the Board of Risk and Insurance Management to promulgate a legislative rule relating to Preferred Medical Liability and High Risk Medical Liability Program.
Relates to the line of succession for the governor and lieutenant-governor in cases where they are impeached or unable to perform the duties of the office.
Relates to the line of succession for the governor and lieutenant-governor in cases where they are impeached or unable to perform the duties of the office.