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Glossary of Legislative Terms

CS/CS/HB 379: Captive Insurance

GENERAL BILL by Economic Affairs Committee ; Insurance and Banking Subcommittee ; Nunez ; (CO-INTRODUCERS) Horner

Captive Insurance; Expands kinds of insurance for which captive insurer may seek licensure; limits risks certain captive insurers may insure; specifies requirements & conditions relating to captive insurer's authority to conduct business; requires before licensure captive insurers must file or submit to OIR specified information, documents, & statements; requires captive insurance company to file specific evidence with office relating to financial condition & quality of management & operations of company; specifies fees to be paid by captive insurance or reinsurance companies; authorizes Commissioner of Insurance Regulation to grant captive insurance company license to conduct insurance business until specified date; authorizes foreign or alien captive insurance company to become domestic captive insurance company by complying with requirements; authorizes office to waive requirements for public hearings relating to redomestication of alien captive insurance company; specifies industrial insured captive insurance companies are not required to be incorporated in this state; requires biographical affidavits, background investigations, & fingerprint cards for all officers & directors; provides restrictions on officers & directors involved with insolvent insurers.

Effective Date: upon becoming a law
 Last Action: 3/9/2012 Senate - Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
Bill Text: PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Budget Subcommittee on General Government Appropriations (BGA)
  3. Budget (BC)

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  • Bill History

    Date Chamber Action
    10/17/2011 House • Filed
    10/28/2011 House • Referred to Insurance and Banking Subcommittee; Finance and Tax Committee; Economic Affairs Committee -HJ 38
    11/9/2011 House • On Committee agenda-- Insurance and Banking Subcommittee, 11/16/11, 8:00 am, 404 HOB
    11/16/2011 House • CS by Insurance and Banking Subcommittee; YEAS 15 NAYS 0 -HJ 176
    12/7/2011 House • Pending review of CS under Rule 7.19(c)
    12/9/2011 House • Original reference(s) removed: Finance and Tax Committee
    • CS referred to Economic Affairs Committee -HJ 169
    • Now in Economic Affairs Committee -HJ 169
    1/10/2012 House • Introduced -HJ 38
    • On Committee agenda-- Economic Affairs Committee, 01/12/12, 11:30 am, Reed Hall
    • CS by Insurance and Banking Subcommittee read 1st time -HJ 165
    1/12/2012 House • CS/CS by- Economic Affairs Committee; YEAS 15 NAYS 0 -HJ 248
    1/20/2012 House • Pending review of CS -under Rule 7.19(c)
    1/23/2012 House • Placed on Calendar -HJ 246
    • CS/CS by Economic Affairs Committee read 1st time -HJ 242
    2/20/2012 House • Placed on Special Order Calendar, 02/22/12
    2/22/2012 House • Read 2nd time -HJ 726
    • Amendment(s) adopted (089525, 138831, 271209, 534865, 634279, 813789) -HJ 727
    • Placed on 3rd reading
    2/23/2012 House • Read 3rd time -HJ 776
    • CS passed as amended; YEAS 115 NAYS 0 -HJ 777
    2/24/2012 Senate • In Messages
    3/5/2012 Senate • Received -SJ 841
    • Referred to Banking and Insurance; Budget Subcommittee on General Government Appropriations; Budget -SJ 841
    3/9/2012 Senate • Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)

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  • CS/CS/HB 379, Engrossed 1 (Current Bill Version) Posted 2/22/2012 at 8:06 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 610 (c2) Captive Insurance Diaz de la Portilla Similar Last Action: 3/9/2012 S Died on Calendar, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
    Location: On 2nd Reading Calendar     		Track This Bill
    H 1101 (er) Insurance Horner Compare Last Action: 4/25/2012 Chapter No. 2012-151, companion bill(s) passed, see CS/CS/HB 119 (Ch. 2012-197), CS/CS/HB 1223 (Ch. 2012-181)
    Location: Became Law     		Track This Bill
    S 1620 (c2) Insurance Richter Compare Last Action: 3/8/2012 S Laid on Table, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151), CS/CS/HB 119 (Ch. 2012-197), CS/CS/HB 1223 (Ch. 2012-181) -SJ 1040
    Location: Laid on Table     		Track This Bill

    Floor Votes (1)

    Date Chamber Result
    2/23/2012 2:35 PM House 115 Yeas - 0 Nays

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    626.7491 Business transacted with producer controlled property and casualty insurer. Page 27 (pdf)
    628.901 “Captive insurer” defined. Page 5 (pdf)
    628.903 “Industrial insured captive insurer” defined. Page 28 (pdf)
    628.905 Licensing; authority. Page 8 (pdf)
    628.906 Page 12 (pdf)
    628.907 Minimum capital and surplus. Page 14 (pdf)
    628.908 Page 17 (pdf)
    628.909 Applicability of other laws. Page 18 (pdf)
    628.910 Page 19 (pdf)
    628.911 Reports and statements. Page 22 (pdf)
    628.912 Page 23 (pdf)
    628.913 Reinsurance. Page 23 (pdf)
    628.914 Page 25 (pdf)
    628.9141 Page 26 (pdf)
    628.9142 Page 26 (pdf)
    628.918 Page 27 (pdf)
    628.919 Page 27 (pdf)
    628.920 Page 27 (pdf)

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  • CS/CS/HB 379, Committee Substitute 2 Posted 1/20/2012 at 3:23 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 610 (c2) Captive Insurance Diaz de la Portilla Similar Last Action: 3/9/2012 S Died on Calendar, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
    Location: On 2nd Reading Calendar     		Track This Bill

    Floor Amendments (6)

    Amendment Sponsor Filed Last Floor Action Format
    634279 - Amendment
    Remove lines 135-237 and insert:     		Nunez 2/21/2012
    1:42 PM     		House: Adopted
    2/22/2012     		PDF
    534865 - Amendment
    Remove lines 254-276 and insert:     		Nunez 2/21/2012
    1:43 PM     		House: Adopted
    2/22/2012     		PDF
    089525 - Amendment
    Remove lines 343-347 and insert:     		Nunez 2/21/2012
    1:46 PM     		House: Adopted
    2/22/2012     		PDF
    813789 - Amendment
    Remove lines 427-436 and insert:     		Nunez 2/21/2012
    1:57 PM     		House: Adopted
    2/22/2012     		PDF
    271209 - Amendment
    Remove lines 500-514 and insert:     		Nunez 2/21/2012
    1:51 PM     		House: Adopted
    2/22/2012     		PDF
    138831 - Amendment
    Remove lines 577-583 and insert:     		Nunez 2/21/2012
    1:56 PM     		House: Adopted
    2/22/2012     		PDF

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    626.7491 Business transacted with producer controlled property and casualty insurer. Page 29 (pdf)
    628.901 “Captive insurer” defined. Page 5 (pdf)
    628.903 “Industrial insured captive insurer” defined. Page 30 (pdf)
    628.905 Licensing; authority. Page 9 (pdf)
    628.906 Page 14 (pdf)
    628.907 Minimum capital and surplus. Page 15 (pdf)
    628.908 Page 18 (pdf)
    628.909 Applicability of other laws. Page 20 (pdf)
    628.910 Page 21 (pdf)
    628.911 Reports and statements. Page 23 (pdf)
    628.912 Page 24 (pdf)
    628.913 Reinsurance. Page 25 (pdf)
    628.914 Page 26 (pdf)
    628.9141 Page 27 (pdf)
    628.9142 Page 28 (pdf)
    628.918 Page 28 (pdf)
    628.919 Page 28 (pdf)
    628.920 Page 29 (pdf)

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  • CS/HB 379, Committee Substitute 1 Posted 12/7/2011 at 12:41 PM

    Bill Text:   Web Page | PDF
    Analyses:   Economic Affairs Committee (Post-Meeting) 1/20/2012 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 610 (c2) Captive Insurance Diaz de la Portilla Similar Last Action: 3/9/2012 S Died on Calendar, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
    Location: On 2nd Reading Calendar     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    641097 - Strike All Amendment
    Remove everything after the enacting clause and insert:     		Nunez 1/11/2012
    6:10 PM     		Adopted without Objection
    1/12/2012     		PDF

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    626.7491 Business transacted with producer controlled property and casualty insurer. Page 29 (pdf)
    628.901 “Captive insurer” defined. Page 5 (pdf)
    628.903 “Industrial insured captive insurer” defined. Page 29 (pdf)
    628.905 Licensing; authority. Page 9 (pdf)
    628.906 Page 13 (pdf)
    628.907 Minimum capital and surplus. Page 15 (pdf)
    628.908 Page 18 (pdf)
    628.909 Applicability of other laws. Page 19-20 (pdf)
    628.910 Page 21 (pdf)
    628.911 Reports and statements. Page 23 (pdf)
    628.912 Page 24 (pdf)
    628.913 Reinsurance. Page 24 (pdf)
    628.914 Page 26 (pdf)
    628.9141 Page 27 (pdf)
    628.9142 Page 27 (pdf)
    628.918 Page 28 (pdf)
    628.919 Page 28 (pdf)
    628.920 Page 28 (pdf)

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  • HB 379, Original Filed Version Posted 10/17/2011 at 3:58 PM

    Bill Text:   Web Page | PDF
    Analyses:   Insurance and Banking Subcommittee (Post-Meeting) 12/7/2011 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 610 Captive Insurance Diaz de la Portilla Identical Last Action: 3/9/2012 S Died on Calendar, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
    Location: On 2nd Reading Calendar     		Track This Bill

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    626.7491 Business transacted with producer controlled property and casualty insurer. Page 26 (pdf)
    628.901 “Captive insurer” defined. Page 4 (pdf)
    628.903 “Industrial insured captive insurer” defined. Page 27 (pdf)
    628.905 Licensing; authority. Page 8 (pdf)
    628.907 Minimum capital and surplus. Page 12 (pdf)
    628.908 Page 14 (pdf)
    628.909 Applicability of other laws. Page 16 (pdf)
    628.910 Page 17 (pdf)
    628.911 Reports and statements. Page 20 (pdf)
    628.912 Page 21 (pdf)
    628.913 Reinsurance. Page 21 (pdf)
    628.914 Page 23 (pdf)
    628.9141 Page 23 (pdf)
    628.9142 Page 24 (pdf)
    628.9143 Page 25 (pdf)
    628.918 Page 25 (pdf)
    628.919 Page 25 (pdf)
    628.920 Page 26 (pdf)

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