3.0.0 5792 2022-02-03T05:17:30Z 2022-02-03T05:17:30Z House H HR 2008-04-15 110 hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Reported by 2008-07-09T14:27:57Z Markup by 2008-07-09T14:27:36Z Referred to 2008-07-09T14:27:23Z Referred to 2008-04-15T14:01:50Z 2008-07-09 hsba16 Capital Markets Subcommittee 1 House committee actions Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote . Committee 2008-07-09 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2008-07-09 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Committee 2008-04-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2008-04-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-04-15 Introduced in House IntroReferral 1000 9 Library of Congress M001140 Rep. Moore, Dennis [D-KS-3] DENNIS MOORE D KS 3 N P000555 Rep. Pryce, Deborah [R-OH-15] DEBORAH PRYCE R OH 15 2008-04-15 True C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 2008-04-15 True K000366 Rep. Klein, Ron [D-FL-22] Ron Klein D FL 22 2008-04-15 True Finance and Financial Sector Bermuda Business records Caribbean area Commerce Corporate governance Corporation directors Europe Federal preemption Financial statements Government Operations and Politics Government paperwork Injunctions Insurance companies Law Liability insurance Property insurance Standards State laws Trusts and trustees United Kingdom Finance and Financial Sector 00 2008-04-15 Introduced in House 2008-06-18T21:28:51Z Increasing Insurance Coverage Options for Consumers Act of 2008 - Amends the Liability Risk Retention Act of 1986 to cover risk retention groups offering commercial property insurance. Applies the exemption of purchasing groups from state law to commercial property insurance.

Terminates the inclusion in risk retention groups under the Act of any such group chartered, licensed, or authorized under the laws of Bermuda or the Cayman Islands.

Prescribes general corporate governance standards for such groups, together with license or charter criteria regarding state examination authority and minimum requirements for safety and soundness.

Prohibits a risk retention group from participating in an insurance insolvency guaranty association that includes participants other than risk retention groups.

Revises procedures for: (1) submitting financial documents to state insurance commissioners; and (2) mandatory disclosures.

Imposes a fiduciary duty upon the board of directors of a risk retention group to operate in the best interests of the group.

Prohibits a state from issuing a cease-and-desist order to any risk retention group or purchasing group that is not chartered or licensed in such state, or otherwise attempt to regulate such group, except as specifically permitted under this Act.

Redesignates the Liability Risk Retention Act as the Risk Retention Act.

]]> Increasing Insurance Coverage Options for Consumers Act of 2008 Short Titles as Introduced Increasing Insurance Coverage Options for Consumers Act of 2008 Display Title Increasing Insurance Coverage Options for Consumers Act of 2008 Official Title as Introduced To amend the Liability Risk Retention Act of 1986 to increase insurance competition and available coverage for consumers. Introduced in House 2008-04-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr5792ih/xml/BILLS-110hr5792ih.xml 2008-07-09 Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote . text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.