AK House Majority
The 27th Alaska State Legislature, 2011 - 2012  Print Friendly Version 
Press Release: House Majority Press

House OKs Bill Updating and Enhancing State Insurance Code

HB 164 Gives States Uniformity with New Federal Provisions
Ak Legislative MajorityAk Legislative Majority
Rep. Kurt Olson R-29
Ak House Majority

Rep. Kurt Olson (R-29)
Chair, (H) L&C Com.
Ak Majority Organization

Ak Majority Organization

Posted: April 8, 2011


(Juneau) - The Alaska State House of Representatives today unanimously passed a bill updating the state insurance code and adopting new national standards.

Ak St Legislature Majority

Ak St Legislature MajorityThis bill contains numerous enhancements to the insurance code and streamlines agent licensing, all while continuing to provide protections for Alaska consumers.
~ Rep. Kurt OlsonAk St Legislature Majority

Ak St Legislature Majority

House Bill 164, sponsored by Labor & Commerce Chair Kurt Olson, R-Kenai, will improve the regulation of the insurance industry in Alaska. “This bill contains numerous enhancements to the insurance code and streamlines agent licensing, all while continuing to provide protections for Alaska consumers,” Olson said. “The changes will be felt in all areas of the insurance industry, from billing and filing, to licensing and oversight.”

The bill contains 14 pages of terminology changes, other sections that adopt national standards and conforms to changes in federal law. HB 164 also carries new consumer protections, including requiring all health insurance companies to file rates for review before implementing, updating 20-year old long term care statutes, and requiring advance notice of a change in the premium or coverage in a health insurance industry.

HB 164 now moves to the Alaska Senate for consideration.

# # #
Share |