West Virginia 2019 Regular Session Status: Enacted 4 R cosponsors

HB 2480 — Relating to the regulation of an internationally active insurance group

Last action — Chapter 151, Acts, Regular Session, 2019

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House of Delegates
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 17, 2019. Enacted.

Prognosis

Likely to advance 82% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 11 sponsors

    1 primary, 10 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (4 R).

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

349 added · 396 removed

Plain-language change summary

The updated version of Bill HB 2480 introduces the role of the Insurance Commissioner as a "group-wide supervisor" for internationally active insurance groups, allowing more oversight and regulation of these companies. It clarifies the commissioner’s authority to act in this capacity and requires insurance companies to provide necessary information to facilitate this role. Additionally, it allows the commissioner to enter agreements with insurers and outlines potential regulatory actions, which enhances the ability to monitor and manage large insurance entities effectively. These changes are important because they help ensure better regulation of the insurance market, promoting stability and accountability among companies operating at an international level.

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NEWS RELEASES HELPFUL LINKS Introduced Version « House Bill 2480 History OTHER VERSIONS  —  Enrolled Version - Final Version  |   |  Email Key:
NEWS RELEASES HELPFUL LINKS Enrolled Version - Final Version « House Bill 2480 History OTHER VERSIONS  —  Introduced Version  |   |  Email Key:
Red = new code to be enacted WEST virginia legislature regular session Introduced House Bill 2480 By Delegates Hott, Westfall, Azinger, D.
Red = new code to be enacted WEST virginia legislature regular session ENROLLED House Bill 2480 By Delegates Hott, Westfall, Azinger, D.
Jeffries, Graves, Jennings, Criss, Mandt, Nelson, Espinosa and Porterfield [By Request of the Insurance Commission] [Introduced January 17, 2019;
Jeffries, Graves, Jennings, Criss, Mandt, Nelson, Espinosa and Porterfield (By Request of the Insurance Commission) [Passed March 8, 2019;
Referred to the Committee on Banking and Insurance then the Judiciary.] A BILL to amend and reenact §33-27-2 and §33-27-7 of the Code of West Virginia, 1931, as amended;
in effect ninety days from passage.] AN ACT to amend and reenact §33-27-2 and §33-27-7 of the Code of West Virginia, 1931, as amended;
permitting the promulgation of rules;
(e) (f) “Insurance holding company system” consists of two or more affiliated persons, one or more of which is an insurer.
(f) “Insurance holding company system” consists of two or more affiliated persons, one or more of which is an insurer.
(f) (g) “Insurer” means any person or persons or corporation, partnership or company authorized by the laws of this state to transact the business of insurance in this state, except that it shall not include agencies, authorities or instrumentalities of the United States, its possessions and territories, the commonwealth of Puerto Rico, the District of Columbia or a state or political subdivision of a state.
(g) “Insurer” means any person or persons or corporation, partnership or company authorized by the laws of this state to transact the business of insurance in this state, except that it shall not include agencies, authorities or instrumentalities of the United States, its possessions and territories, the commonwealth of Puerto Rico, the District of Columbia or a state or political subdivision of a state.
(g) (i) “Person” means an individual, a corporation, a limited liability company, a partnership, an association, a joint-stock company, a trust, an unincorporated organization, a depository institution or any similar entity or any combination of the foregoing acting in concert, but does not include any joint venture partnership exclusively engaged in owning, managing, leasing or developing real or tangible personal property.
(i) “Person” means an individual, a corporation, a limited liability company, a partnership, an association, a joint-stock company, a trust, an unincorporated organization, a depository institution or any similar entity or any combination of the foregoing acting in concert, but does not include any joint venture partnership exclusively engaged in owning, managing, leasing or developing real or tangible personal property.
(h) (j) A “security holder” of a specified person is one who owns any security of such person, including common stock, preferred stock, debt obligations and any other security convertible into or evidencing the right to acquire any of the foregoing.
(j) A “security holder” of a specified person is one who owns any security of such person, including common stock, preferred stock, debt obligations and any other security convertible into or evidencing the right to acquire any of the foregoing.
(i) (k) A “subsidiary” of a specified person is an affiliate controlled by such person directly or indirectly through one or more intermediaries.
(k) A “subsidiary” of a specified person is an affiliate controlled by such person directly or indirectly through one or more intermediaries.
(j) (l) “Voting security” includes any security convertible into or evidencing a right to acquire a voting security.
(l) “Voting security” includes any security convertible into or evidencing a right to acquire a voting security.
(a) Documents, materials or other information in the possession or control of the commissioner that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to §33-27-6 of this code and all information reported or provided to the commissioner pursuant to §33-27-3(b) (13) (12) or §33-27-3(b)(14) (13) of this code;
(a) Documents, materials or other information in the possession or control of the commissioner that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to §33-27-6 of this code and all information reported or provided to the commissioner pursuant to §33-27-3(b) (12) or §33-27-3(b) (13) of this code;
or §33-27-5 of this code;
§33-27-5 of this code;
           NOTE:
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The purpose of this bill is to provide authority to a designated state insurance commissioner to act as a group-wide supervisor for an internationally active insurance group.  For a holding company group to be considered an internationally active insurance group, it must meet various criteria, including premiums written in at least three countries, at least 10% of premiums written outside the United States, and total assets greater than $50 billion or total premiums greater than $10 billion.  The legislation is needed for the State of West Virginia to remain accredited with the National Association of Insurance Commissioners.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.
Bill Status  |  Bill Tracking  |  Legacy WV Code  |  Bulletin Board  |  District Maps  |  Senate Roster  |  House Roster  |  Live  |  Blog  |  Jobs  |  Links  |  Home This Web site is maintained by the West Virginia Legislature's Office of Reference & Information.
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Action History

  1. Chapter 151, Acts, Regular Session, 2019

  2. Approved by Governor 3/26/19

  3. To Governor 3/25/19

  4. Approved by Governor 3/26/19 - House Journal

  5. Approved by Governor 3/26/19 - Senate Journal

  6. To Governor 3/25/19 - House Journal

  7. House Message received

  8. Completed legislative action

  9. Communicated to Senate

  10. House concurred in Senate amendment and passed bill (Roll No. 658)

  11. House received Senate message

  12. Senate requests House to concur

  13. Passed Senate with amended title (Roll No. 396)

  14. Read 3rd time

  15. On 3rd reading

  16. Read 2nd time

  17. On 2nd reading

  18. Read 1st time

  19. On 1st reading

  20. Reported do pass, with title amendment

  21. To Banking and Insurance

  22. To Banking and Insurance

  23. Introduced in Senate

  24. House Message received

  25. Communicated to Senate

  26. Passed House (Roll No. 65)

  27. Read 3rd time

  28. On 3rd reading, Special Calendar

  29. Read 2nd time

  30. On 2nd reading, Special Calendar

  31. Read 1st time

  32. On 1st reading, Special Calendar

  33. Do pass

  34. To House Judiciary

  35. Do pass, but first to Judiciary

  36. To House Banking and Insurance

  37. Introduced in House

  38. To Banking and Insurance then Judiciary

  39. Filed for introduction

Sponsors

Sponsorship breakdown

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1 sponsors · 10 co-sponsors · 141 not signed on

Sponsors (1)

Co-sponsors (10)

Not signed on (141)

141 members have not signed on to this bill.

Show all 141 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

PASSAGE-SENATE AMENDED HB

Passed 97 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 22002
Unaffiliated 70001
Democrat 5000
Total 97003
% of votes cast 97%0%0%3%
How each member voted (100)
Member Party Vote
Foster — Yea
Atkinson — Yea
Bates — Yea
Fast — Yea
Fleischauer — Yea
Graves — Yea
Hamrick — Yea
Lavender-Bowe — Yea
Linville — Yea
Lovejoy — Yea
Shott — Yea
Sponaugle — Yea
Boggs — Yea
Brown, N. — Yea
Maynard — Yea
Brown, S. — Yea
Sypolt — Yea
Hartman — Yea
Thompson, C. — Yea
Thompson, R. — Yea
Nelson — Yea
Tomblin — Yea
Walker — Yea
Phillips — Yea
Diserio — Yea
Jeffries, J. — Yea
Byrd — Yea
Canestraro — Yea
Caputo — Yea
Cowles — Yea
Doyle — Yea
Estep-Burton — Yea
Hanna — Yea
Hardy — Yea
Harshbarger — Yea
Higginbotham — Yea
Hill — Yea
Pack — Yea
Paynter — Yea
Pethtel — Yea
Pyles — Yea
Robinson — Yea
Rodighiero — Yea
Swartzmiller — Yea
Waxman — Yea
Westfall — Yea
Wilson — Yea
Evans — Yea
Kessinger — Yea
Rowan — Yea
Angelucci — Yea
Bibby — Yea
Cadle — Yea
Capito — Yea
Espinosa — Yea
Hicks — Yea
Hollen — Yea
Householder — Yea
Kump — Yea
Longstreth — Yea
Malcolm — Not Voting
Mandt — Yea
Miley — Yea
Porterfield — Yea
Rowe — Yea
Skaff — Yea
Staggers — Yea
Steele — Yea
Storch — Yea
Summers — Yea
Zukoff — Yea
Evan Hansen Democrat Yea
John Williams Democrat Yea
Mike Pushkin Democrat Yea
Sean Hornbuckle Democrat Yea
Shawn Fluharty Democrat Yea
Ben Queen Republican Yea
Betsy Kelly Republican Yea
Betsy Kelly Republican Yea
Carl Martin Republican Yea
Christopher W. Toney Republican Yea
D. Rolland Jennings Republican Yea
Dean Jeffries Republican Yea
Evan Worrell Republican Yea
Gary G. Howell Republican Yea
George Miller Republican Yea
Jason Barrett Republican Yea
Jeff Campbell Republican Yea
Jim Butler Republican Yea
Joe Ellington Republican Yea
John Paul Hott Republican Yea
Mark Dean Republican Not Voting
Matthew Rohrbach Republican Yea
Mike Azinger Republican Yea
Pat McGeehan Republican Yea
Patrick Martin Republican Yea
Roger Hanshaw Republican Yea
Roy Cooper Republican Not Voting
Vernon Criss Republican Yea
William Anderson Republican Yea

Official roll call →

Passage

Passed 33 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 2000
Unaffiliated 31001
Total 33001
% of votes cast 97%0%0%3%
How each member voted (34)
Member Party Vote
JEFFRIES — Yea
SMITH — Yea
BALDWIN — Yea
LINDSAY — Yea
STOLLINGS — Yea
BEACH — Yea
MANN — Yea
SWOPE — Yea
BLAIR — Yea
MARONEY — Yea
SYPOLT — Yea
BOLEY — Yea
MAYNARD — Yea
TAKUBO — Yea
BOSO — Yea
PALUMBO — Yea
TARR — Yea
PLYMALE — Not Voting
TRUMP — Yea
CLINE — Yea
PREZIOSO — Yea
UNGER — Yea
FACEMIRE — Yea
ROBERTS — Yea
WELD — Yea
HAMILTON — Yea
ROMANO — Yea
WOELFEL — Yea
HARDESTY — Yea
RUCKER — Yea
MR PRESIDENT — Yea
IHLENFELD — Yea
Charles H. Clements Republican Yea
Mike Azinger Republican Yea

Official roll call →

PASSAGE

Passed 97 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 22002
Unaffiliated 70001
Democrat 5000
Total 97003
% of votes cast 97%0%0%3%
How each member voted (100)
Member Party Vote
Foster — Yea
Brown, N. — Yea
Maynard — Yea
Brown, S. — Yea
Atkinson — Yea
Bates — Yea
Bibby — Yea
Boggs — Yea
Fast — Yea
Graves — Yea
Hanna — Yea
Harshbarger — Yea
Linville — Yea
Longstreth — Yea
Malcolm — Yea
Mandt — Yea
Shott — Yea
Sponaugle — Yea
Storch — Yea
Summers — Yea
Swartzmiller — Yea
Sypolt — Yea
Hartman — Yea
Thompson, C. — Yea
Thompson, R. — Yea
Nelson — Yea
Tomblin — Yea
Walker — Yea
Phillips — Yea
Diserio — Yea
Jeffries, J. — Yea
Evans — Yea
Cadle — Yea
Capito — Yea
Caputo — Yea
Cowles — Yea
Estep-Burton — Yea
Hicks — Yea
Hill — Yea
Hollen — Yea
Householder — Yea
Kessinger — Yea
Pack — Yea
Paynter — Yea
Pethtel — Yea
Pyles — Yea
Robinson — Yea
Rodighiero — Yea
Rowan — Yea
Westfall — Yea
Wilson — Yea
Zukoff — Yea
Angelucci — Yea
Byrd — Yea
Canestraro — Yea
Doyle — Yea
Espinosa — Yea
Fleischauer — Yea
Hamrick — Yea
Hardy — Yea
Higginbotham — Yea
Kump — Not Voting
Lavender-Bowe — Yea
Lovejoy — Yea
Miley — Yea
Porterfield — Yea
Rowe — Yea
Skaff — Yea
Staggers — Yea
Steele — Yea
Waxman — Yea
Evan Hansen Democrat Yea
John Williams Democrat Yea
Mike Pushkin Democrat Yea
Sean Hornbuckle Democrat Yea
Shawn Fluharty Democrat Yea
Ben Queen Republican Yea
Betsy Kelly Republican Yea
Betsy Kelly Republican Yea
Carl Martin Republican Yea
Christopher W. Toney Republican Yea
D. Rolland Jennings Republican Yea
Dean Jeffries Republican Yea
Evan Worrell Republican Yea
Gary G. Howell Republican Yea
George Miller Republican Yea
Jason Barrett Republican Yea
Jeff Campbell Republican Yea
Jim Butler Republican Yea
Joe Ellington Republican Not Voting
John Paul Hott Republican Yea
Mark Dean Republican Yea
Matthew Rohrbach Republican Yea
Mike Azinger Republican Yea
Pat McGeehan Republican Yea
Patrick Martin Republican Yea
Roger Hanshaw Republican Yea
Roy Cooper Republican Not Voting
Vernon Criss Republican Yea
William Anderson Republican Yea

Official roll call →

Subjects

finance health-insurance
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Frequently asked questions

Who sponsors HB 2480?
HB 2480 is sponsored by Westfall, Graves, John Paul Hott (Republican), Porterfield, Mandt, D. Rolland Jennings (Republican), Espinosa, Vernon Criss (Republican), Azinger, Nelson, and Dean Jeffries (Republican).
What is the current status of HB 2480?
This bill has been enacted into law. Introduced January 17, 2019. Enacted.
Where can I track HB 2480?
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