This bill amends the Code of West Virginia to authorize the Insurance Commission to promulgate a legislative rule concerning insurance holding company systems. Specifically, it references the legislative rule filed in the State Register on July 22, 2025, which was modified to address the concerns of the Legislative Rule-Making Review Committee and subsequently refiled on August 21, 2025. The new legal language inserted into the current law identifies the rule as "114 CSR 35."

The primary purpose of this bill is to ensure that the Insurance Commission has the authority to implement regulations that govern insurance holding company systems, thereby enhancing oversight and compliance within the insurance industry in West Virginia. This legislative action reflects the ongoing efforts to refine and improve regulatory frameworks in response to evolving industry standards and practices.

Statutes affected:
Introduced Version: 64-7-1