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Committee unanimously advances insurance investment update to modernize insurer portfolio rules
Summary
Senate Bill 49, an update to insurer investment rules, won unanimous committee support; the bill modernizes standards, requires board-approved written investment plans, and adopts guardrails to promote diversification and accountability.
Representative Walter presented Senate Bill 49 on behalf of the Senate sponsor; the Insurance Commissioner and staff provided detail. The bill updates decades-old statutory language governing insurer investments, adopts model provisions consistent with the National Association of Insurance Commissioners, and requires insurers to maintain written investment plans approved by their boards.
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