Date Requested: February 06, 2015
Time Requested: 03:28 PM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
2694 Introduced SB368
CBD Subject: Insurance


FUND(S):

7152

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    There is no fiscal impact to the operations, expenses or revenues of the Offices of the Insurance Commissioner due to the enactment of SB368.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2015
Increase/Decrease
(use"-")
2016
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


    



Memorandum


    Senate Bill 368 would not significantly impact the operations, revenues or expense of the the Offices of the Insurance Commissioner.
    
    The purpose of SB368 is to adopt a National Association of Insurance Commissioners' (NAIC) model to establish standards for minimum capital and surplus to be maintained by a health organization and to provide for the early detection of a potentially hazardous or otherwise dangerous financial condition of a health organization in order to protect its enrollees and the general public.



    Person submitting Fiscal Note: Melinda Kiss
    Email Address: Melinda.Kiss@wvinsurance.gov