This bill repeals and reenacts provisions relating to insurance investments.
This bill:
- repeals the existing chapter dealing with insurance investments;
- defines terms;
- establishes a minimum financial security benchmark for insurers;
- describes the authorized investments an insurer may make;
- establishes prudence evaluation criteria;
- requires that an insurer establish and follow a written investment policy;
- describes the authorized classes of investments an insurer may make;
- establishes the limitation of classes of investments;
- requires that an insurer doing business in different currencies have securities in each currency that meet the requirements of this chapter;
- prohibits an insurer from making certain types of investments;
- establishes the effect of investment restrictions on insurers;
- provides insurers guidelines for the required reports and replies under this chapter;
- authorizes the commissioner to retain experts when analyzing an insurer's investments;
- authorizes the commissioner to issue orders regarding an insurer's investment practices;
- describes how a commissioner should conduct an administrative hearing under this chapter;
- exempts an investment policy subject to this chapter from the definition of "record" under the Government Records Access and Management Act;
- provides the circumstances under which this chapter prevails over any conflicting statute that relates to insurance investments; and
- grants the commissioner rulemaking authority regarding insurance investments.
Recommended by: Business and Labor Interim Committee

Statutes affected:
Introduced: 31A-18-101, 31A-18-102, 31A-18-103, 31A-18-105, 31A-18-106, 31A-18-107, 31A-18-108, 31A-18-110, 63G-2-103
Amended 1/23/2025 10:01:515: 31A-18-101, 31A-18-102, 31A-18-103, 31A-18-105, 31A-18-106, 31A-18-107, 31A-18-108, 31A-18-110, 63G-2-103