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Appropriations panel approves fee increases and sends House Bill 1123 to the floor
Summary
The House Appropriations Committee voted to advance House Bill 1123 after adopting committee changes that raise multiple insurance licensing and producer fees and leave the insurance regulatory trust fund reserve limit at its prior level.
Representative Jonathan Warray, chair of the House Industry, Business and Labor Committee, told the Appropriations Committee that House Bill 1123 updates long-unchanged insurance licensing fees and producer appointment charges.
Warray introduced the bill to Appropriations and said the measure “addresses outdated fees for 2 areas, company licensing and producer licensing.”
The bill raises the combined filing fees companies pay (certificate of authority, annual statement and abstract) from $155 to $300, which Warray said he estimates will generate about $130,000 in additional revenue per biennium. On the producer side, the committee…
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