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House panel advances bill renewing state insurance regulatormembership in national compact
Summary
The House Business Committee voted to send House Bill 71 to the floor with a "do pass" recommendation. The bill would align Idahoinsurance regulation with a national standard for holding companies and a group capital calculation used by many other states, the Department of Insurance said.
Representative Brent Crane, R-Nampa, asked the House Business Committee on Feb. 13 to send House Bill 71 to the full House with a due-pass recommendation. The bill would authorize Idahoto participate in the standards and practices commonly coordinated through the National Association of Insurance Commissioners (NAIC) and to adopt a group capital calculation for holding companies that do business in Idaho.
The bills sponsor said the measure renews a longstanding practice and would help…
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