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Committee holds omnibus insurance package for technical fixes after review
Summary
Representative Layman presented HB 12-60, a multi-part insurance omnibus addressing fraud reporting (routes to the NICB), a fee schedule for the all-claims payer database, guarantee-fund updates, nonrenewal-notice timing and condominium insurance options; the committee held the bill for one week to resolve technical and solvency questions with the Department of Insurance.
Representative Layman described HB 12-60 as an omnibus insurance bill containing many discrete provisions affecting reporting, fees, solvency standards and consumer protections.
On fraud, Layman said the bill creates a reporting pathway: "This says you report that to the National Insurance Crime Bureau. They can share that with the Department of Insurance," giving insurers a statutory mechanism for where to send reports of suspected fraud. The bill also adds a fee…
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