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Bill

LC 388

Generally revise insurance laws

2025 Regular Session

LC 388 seeks a broad overhaul of the state's insurance laws, but the draft died in process, so no enacted provisions or consumer/insurer impact yet.

(LC) Draft Died in Process
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WeVote Research Nonpartisan
Bill Summary · LC 388

Summary of LC 388 — Generally revise insurance laws

Overview

LC 388 is a bill titled “Generally revise insurance laws,” introduced on September 27, 2024. The bill carries the designation (LC) and is classified as a bill addressing the subject of insurance. The status in the record is “Draft Died in Process,” indicating that the formal draft did not advance toward enactment.

Purpose and Intent

  • Based on the title alone, LC 388 appears intended to undertake a broad modernization or overhaul of the state’s insurance laws.
  • No text of the bill is provided in the available record, so the explicit goals, guiding principles, or targeted reforms (e.g., consumer protections, insurer regulation, rate filing, solvency standards, or forms and disclosures) are not specified.

Status and Timeline

  • Introduced: September 27, 2024
  • 2024-09-27: Drafter Assigned; Draft On Hold
  • 2025-05-22: (LC) Draft Died in Process
  • Current status: Draft Died in Process, meaning the draft did not progress through the legislative process to become law.
  • Implication: There is no enacted version or committee-approved language to analyze or implement. Typically, a draft that dies in process will not advance without new sponsorship, revisions, or procedural action.

Potential Provisions (Not Confirmed)

Because the text is not provided, specific provisions cannot be confirmed. In general, a broad overhaul of insurance laws could hypothetically cover areas such as:
- Regulator roles and authority (e.g., department of insurance powers, consumer protections)
- Licensing, registration, and ongoing compliance for insurers and producers
- Solvency and financial requirements for insurers
- Consumer disclosures, policy forms, and marketing standards
- Rates, premiums, and rate filing procedures
- Market conduct, complaints, and dispute resolution
- Amendments to definitions and regulatory definitions used in insurance law

Note: The above categories are common in comprehensive insurance-law revisions but are not stated provisions of LC 388.

Affected Parties

  • Insurers and insurance producers (agents/brokers)
  • Consumers and policyholders
  • Regulatory agencies or departments overseeing insurance
  • Potential third-party administrators, actuaries, and market participants

Procedural/Timeline Considerations

  • With the draft having died in process, any consideration of LC 388 would require new introductory steps (new sponsor, new draft, or reintroduction in a future session).
  • To track potential future activity, monitor legislative records for any reintroduction, updated text, or committee referrals.

Next Steps for Readers

  • If you need detailed analysis, obtain the actual bill text or fiscal notes from the legislative portal.
  • For stakeholders (insurers, consumers, advocates), consider noting areas of interest (e.g., consumer protections, rate practices) to assess alignment with any future revisions.
  • Stay informed on any reintroduction or amendments in subsequent sessions.

Compiled from official sources — confirm details with the bill’s official record.

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