http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_HR_5792.html?rev=27177 <p>H.R. 5792 would amend the Liability Risk Retention Act of 1986 to increase insurance competition and available coverage for consumers.</p> <h2 id="toc0"> Detailed Summary </h2> <p>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.</p> <p>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.</p> <p>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.</p> <p>Prohibits a risk retention group from participating in an insurance insolvency guaranty association that includes participants other than risk retention groups.</p> <p>Revises procedures for: (1) submitting financial documents to state insurance commissioners; and (2) mandatory disclosures.</p> <p>Imposes a fiduciary duty upon the board of directors of a risk retention group to operate in the best interests of the group.</p> <p>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.</p> <p>Redesignates the Liability Risk Retention Act as the Risk Retention Act.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 7/9/2008: House committee/subcommittee actions. Status: Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 27177@http://www.washingtonwatch.com Fri, 11 Jul 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_5792.html 7/9/2008: House committee/subcommittee actions. Status: Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote . 37523@http://www.washingtonwatch.com Wed, 09 Jul 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_5792.html?rev=25914 <p>H.R. 5792 would amend the Liability Risk Retention Act of 1986 to increase insurance competition and available coverage for consumers.</p> <h2 id="toc4"> Detailed Summary </h2> <p>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.</p> <p>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.</p> <p>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.</p> <p>Prohibits a risk retention group from participating in an insurance insolvency guaranty association that includes participants other than risk retention groups.</p> <p>Revises procedures for: (1) submitting financial documents to state insurance commissioners; and (2) mandatory disclosures.</p> <p>Imposes a fiduciary duty upon the board of directors of a risk retention group to operate in the best interests of the group.</p> <p>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.</p> <p>Redesignates the Liability Risk Retention Act as the Risk Retention Act.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>Latest Major Action: 4/15/2008: Referred to House committee. Status: Referred to the House Committee on Financial Services.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 25914@http://www.washingtonwatch.com Wed, 18 Jun 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_5792.html?rev=22089 <p>H.R. 5792 would amend the Liability Risk Retention Act of 1986 to increase insurance competition and available coverage for consumers.</p> <h2 id="toc8"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>(Log in to edit the wiki and be the first to update the status of the bill!)</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 22089@http://www.washingtonwatch.com Wed, 16 Apr 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_5792.html?rev=22090 <p>H.R. 5792 would amend the Liability Risk Retention Act of 1986 to increase insurance competition and available coverage for consumers.</p> <h2 id="toc12"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc13"> Status of the Legislation </h2> <p>Latest Major Action: 4/15/2008: Referred to House committee. Status: Referred to the House Committee on Financial Services.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc14"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc15"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 22090@http://www.washingtonwatch.com Wed, 16 Apr 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_5792.html 4/15/2008: Referred to House committee. Status: Referred to the House Committee on Financial Services. 34634@http://www.washingtonwatch.com Tue, 15 Apr 2008 00:00:00 EDT