The bill amends the Code of West Virginia by repealing various reporting requirements related to workers' compensation and occupational pneumoconiosis claims. It eliminates the obligation for the Insurance Commissioner to report to the Joint Committee on Government and Finance regarding workers' compensation funds and the state agency program's status. Additionally, the requirement for the Insurance Commissioner and the Occupational Pneumoconiosis Board to report to the Governor on occupational pneumoconiosis claims is removed, along with other reporting mandates concerning post-traumatic stress disorder claims and medical malpractice insurance. The bill also introduces a requirement for the Insurance Commissioner to post a flood insurance notification on the agency's website to raise awareness among public entities about the importance of adequate flood insurance.

Moreover, the bill establishes the State Entities Workers Compensation Program Fund to manage workers' compensation risks for executive state entities and discretionary participants. The Insurance Commissioner is authorized to assess necessary fees or surcharges and establish criteria for premiums and assessments, with the fund operating separately from the General Fund. The bill empowers the commissioner to create emergency rules and propose legislative rules for implementation, while also requiring consultation with the State Board of Risk and Insurance Management. Additionally, it repeals provisions related to the publication of automobile insurance rates and the reporting of civil actions against physicians or podiatrists, indicating a shift towards streamlining insurance regulations and reducing administrative burdens. The bill is set to take effect 90 days after passage.

Statutes affected:
Introduced Version: 23-2C-5, 23-4-1f, 33-2-15a, 33-2-21a, 23-1-2, 23-1-17, 33-20-19, 33-20B-6, 33-20B-8
Enrolled Version: 23-2C-5, 23-4-1f, 33-2-15a, 33-2-21a, 23-1-2, 23-1-17, 33-20-19, 33-20B-6, 33-20B-8