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House unanimously passes insurance accreditation bill to align with NAIC standards
Summary
Senate Bill 23, intended to bring the state insurance department into compliance with NAIC accreditation standards due by 1994, passed the House 65–0; one representative noted a personal employment connection to the insurance industry.
The Utah House unanimously passed Senate Bill 23 on the floor, legislation sponsors described as intended to align the state insurance department with the National Association of Insurance Commissioners (NAIC) financial accreditation standards that must be met by 1994.
Supporters emphasized the bill improves solvency oversight of insurers and helps the…
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