Bill
LC 3986
Aims to broadly overhaul state insurance laws; drafted but died in 2025, so no enacted changes. If revived, could reshape protections, licensing, solvency, and oversight.
Overview
- LC 3986 is a bill titled “Generally revise insurance laws” that aims to broadly update the state’s insurance statutes.
- Status: Draft died in process. The bill was introduced on December 15, 2024, and a drafter was assigned that same day. The draft subsequently died in process on May 22, 2025.
Key Dates
- 2024-12-15: Drafter Assigned
- 2025-05-22: Draft Died in Process
Purpose and intent
- The bill is described as a comprehensive revision of the current insurance laws. Specific goals or policy changes are not provided in the available information.
- Without the text, the precise scope (e.g., consumer protections, insurer solvency, rate/regulation provisions, licensing requirements) cannot be determined from the summary alone.
Provisions and changes (current information)
- No detailed provisions are available in the provided materials. The description indicates a broad revision rather than a narrow amendment, but exact provisions, requirements, or modifications to existing law are not specified.
Who would be affected
- insurers and other market participants (e.g., producers/agents, administrators) by potential changes to licensing, rates, solvency standards, or regulatory oversight.
- consumers and policyholders, through potential changes in protections, disclosures, and claims practices.
- state insurance regulators and related agencies responsible for implementing and enforcing insurance statutes.
Procedural and timeline considerations
- The draft was assigned to a drafter in December 2024.
- The bill did not progress beyond the drafting stage and died in process by May 22, 2025.
- As a draft that died, there is no enacted text or authorized timeline for committee hearings, floor votes, or enactment.
Potential impact if enacted (hypothetical, not in effect)
- If revived and enacted, the bill could modernize and streamline the insurance legal framework, potentially affecting regulatory processes, consumer protections, and market practices.
- The actual impact would depend on the final text, including which provisions are retained, amended, or removed.
Notes
- No substantive provisions are available in the provided information. Readers seeking detail would need the bill’s enacted text or sponsorship/committee materials from the relevant legislative session.
Compiled from official sources — confirm details with the bill’s official record.
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