Senate Bill 375 Summary

• Corrects technical language in insurance statutes effective October 1, 2018, including replacing "acteem" with "actuary may deem" in life insurance reserve provisions

• Updates sponsored captive insurance company provisions to clarify that sponsors "shall" (rather than "must") satisfy minimum capital and surplus requirements to maintain their licenses

• Revises health maintenance organization agreement requirements to replace gendered pronouns with gender-neutral language and update references to federal health insurance privacy laws

• Modifies insurance producer licensing requirements for limited lines travel insurance and clarifies terminology definitions related to drugs and persons in insurance statutes

• Updates multiple health insurance provisions to exclude high deductible health plans from deductible and coinsurance limits for preventive services including colonoscopies and genetic testing