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IBL committee adopts amendment and votes due‑pass on insurance fees bill, sending it toward appropriations
Summary
The Industry, Business and Labor Committee considered an agency bill to modernize fee schedules for the Insurance Department (House Bill 1123), adopted an amendment negotiated with the department, raised a statutory reserve ceiling to $2.5 million, and voted to give the bill a due‑pass as amended to appropriations.
Representative Koppelman presented an amendment to House Bill 1123, an agency bill from the Insurance Department to modernize fee schedules and address a cash‑flow shortfall. The amendment updated multiple licensing and appointment fees, sought to limit increases in many categories, and raised the Insurance Department’s statutory operating reserve ceiling to $2.5 million to address intra‑year negative cash flow.
Deputy Insurance Commissioner John Arnold told the committee the amendment reflected compromise language worked out…
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