MR. PRESIDENT:
The Senate Committee on Insurance and Financial Institutions, to which was referred Senate Bill No.
441, has had the same under consideration and begs leave to report the same back to the Senate with the
recommendation that said bill be AMENDED as follows:
risk manager.
(b) As used in this section, "risk manager" means a person
qualified to assess an exempt commercial policyholder's insurance
needs and analyze and negotiate a policy on behalf of an exempt
commercial policyholder. A risk manager may be:
(1) a full-time employee of an exempt commercial
policyholder who is qualified through education and
experience or training and experience; or
(2) a person retained by an exempt commercial policyholder
who holds a professional designation relevant to the type of
insurance to be purchased by the exempt commercial
policyholder.
(c) The written or electronic notice required under subsection
(d) does not apply to:
(1) an increase to the premium charged for continuation of a
policy beyond the anniversary date of the policy or renewal of
a policy when:
(A) the insured is an exempt commercial policyholder; or
(B) the policy is an umbrella or excess policy; or
(2) a premium increase that results from a change that:
(A) is based on an action of the insured; and
(B) alters the nature or extent of the risk insured against;
including a change in the classification or the units of
exposure or increased policy coverage.
(d) Except as provided in subsection (c), an".
Page 1, line 4, delete "fourteen percent (14%)" and insert " thirty
percent (30%)".
Page 1, line 8, delete "provide" and insert " send".
Page 1, line 8, after "written" insert " or electronic".
Page 1, line 8, after "specifying" insert " that there will be an
increase in".
Page 1, line 11, delete "(b)" and insert " (e)".
Page 1, line 11, delete "(a) provides" and insert " (d) sends to the
first named insured".
Page 1, line 11, after "written" insert " or electronic".
Page 1, line 12, delete "(a) to an insured" and insert " (d)".
Page 1, line 13, delete "forty-four (44)" and insert " twenty-nine
(29)".
Page 1, line 15, delete "fourteen percent (14%)" and insert " thirty
percent (30%)".
Page 2, line 2, delete "(c)" and insert " (f)".
Page 2, line 2, delete "(a) provides" and insert " (d) sends".
and when so amended that said bill do pass .
Committee Vote: Yeas 7, Nays 2.