Bill No.:                     SF0036                                   Drafter:  LGC

LSO No.:                   13LSO-0247                         Effective Date:  Immediate

Enrolled Act No.:    SEA0054

Chapter No.:            CH0135

Prime Sponsor:       Senator Case

Catch Title:              Insurance-publications requirements.

Subject:                     Publication of insurance company annual statements.

Summary/Major Elements:

· Under current law, the insurance commissioner receives annual financial statements from authorized insurers in the state.  The commissioner is required to cause summaries of those statements to be published for six successive days in a daily newspaper of general circulation within the state, or for six successive weeks in a weekly newspaper of general circulation.

· This act repeals the requirement to publish each summary in a newspaper and instead requires the commissioner to publish the summaries on the department’s webpage.

· This act also requires the commissioner to publish a public service announcement about how citizens may access the information on the website.

· The public service announcement must be published no less than six and no more than twelve times each year in legal newspapers of general circulation within the state.

· The cost of the publication of the public service announcements is to be shared equally by the insurers who file the annual financial statements.