SB17-249 Summary

• Extends the sunset date for Division of Insurance functions from July 1, 2017 to September 1, 2030, except bail bonding agent licensing functions which remain exempt from sunset.

• Schedules regulation of preneed funeral contracts (Article 15) for repeal on September 1, 2022, requiring departmental review before repeal.

• Requires fines and penalties for insurance violations relate only to general business practices and compliance activities, excluding clearly infrequent or unintentional random errors that do not cause significant consumer harm.

• Transfers certain health maintenance organization regulatory functions from the executive director to the commissioner, streamlining administrative procedures for certificate of authority issuance, complaints, and examinations.

• Repeals Article 3.5 (long-term care insurance) effective July 1, 2025, eliminates the motor vehicle insurance rate schedule filing requirement, and expands the definition of "enrollee" and "participating provider" in health insurance regulations.