All Roll Calls
Yes: 82 • No: 17
WyomingSF 502025 General SessionSenateWALLET
AN ACT relating to the insurance holding company system regulatory act; specifying requirements regarding group capital calculations, group capital ratios, liquidity stress tests, liquidity stress test results, and related information; amending confidentiality provisions; providing definitions; requiring rulemaking; and providing for effective dates.
Sponsored By: null Corporations
Signed by Governor
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 1 benefits, 1 costs, 3 mixed.
Stronger confidentiality for insurer group data
Beginning July 1, 2025, the commissioner must keep group capital calculations, capital ratios, and liquidity stress test results and disclosures confidential, including information from the Federal Reserve and non‑U.S. supervisors. Documents held by the NAIC or a commissioner‑designated consultant are confidential and privileged, not public records, not subject to subpoena, and not usable in private civil cases. Agreements with the NAIC or a consultant must bar permanent database storage of shared information after analysis, except for liquidity test information. If a consultant will handle liquidity test materials, affected insurers must be told who the consultant is.
Liquidity stress tests for large insurers
Beginning July 1, 2025, the ultimate controlling person of any registered insurer that meets the scope rules must file that year’s liquidity stress test results with the lead state. Filings must follow that year’s national framework, instructions, and templates, plus any lead state determinations in the framework. The NAIC financial stability task force reviews the scope each year; changes take effect January 1 of the year after adoption. If an insurer meets any scope threshold, it is in unless the lead state excludes it after consultation. If it meets none, it is out unless the lead state includes it after consultation.
Definitions and rulemaking for new tests
Beginning July 1, 2025, the law defines the group capital calculation instructions, the liquidity stress test framework, the scope criteria, and who counts as a third‑party consultant. It updates the statute’s cross‑reference to include the new section. The usual “materiality” threshold does not limit group capital or liquidity stress test filings. The Department of Insurance must issue rules to carry out this law.
Insurers’ group capital filings and exemptions
Beginning July 1, 2025, the ultimate controlling person of each registered insurer must file a yearly group capital calculation and ratio with the lead state, using national instructions. Some groups are exempt, including a single‑insurer domestic group that assumes no other insurer’s business, groups where the Federal Reserve’s calculation can be obtained, and groups overseen by a reciprocal non‑U.S. supervisor that recognizes U.S. group rules. A group may also be exempt if it gives the lead state information that meets NAIC accreditation standards and, for non‑reciprocal foreign supervisors, that supervisor accepts the group capital calculation as the worldwide assessment. The lead state commissioner can require a filing for U.S. operations of non‑U.S. groups, grant or revoke exemptions, or accept a limited filing by rule. If an exemption ends, the filing is due at the next annual date unless the commissioner grants an extension.
No public ads about capital or liquidity
Beginning July 1, 2025, regulators can use group capital and liquidity stress tests to check risk. They cannot use them to rank insurers. Public ads or statements about a group’s capital calculation, capital ratio, liquidity stress test results, or related disclosures are banned unless the law allows them. The commissioner may deem such statements misleading. An insurer may publish a narrow written rebuttal if it proves a published claim is materially false or an inappropriate comparison.
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Sponsors & Cosponsors
Sponsor
null Corporations
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 3/3/2025
H 3rd Reading:Passed 49-10-2-0-1
Yes: 49 • No: 10 • Other: 1
House vote • 2/24/2025
H07 - Corporations:Recommend Do Pass 8-0-0-0-1
Yes: 8 • No: 0 • Other: 1
Senate vote • 1/20/2025
S 3rd Reading:Passed 20-7-4-0-0
Yes: 20 • No: 7
Senate vote • 1/15/2025
S07 - Corporations:Recommend Do Pass 5-0-0-0-0
Yes: 5 • No: 0
Actions Timeline
Governor Signed SEA No. 0064
3/5/2025GovernorAssigned Chapter Number 113
3/5/2025H 3rd Reading:Passed 49-10-2-0-1
3/3/2025HouseAssigned Number SEA No. 0064
3/3/2025S President Signed SEA No. 0064
3/3/2025SenateH Speaker Signed SEA No. 0064
3/3/2025HouseH 2nd Reading:Passed
2/28/2025HouseH COW:Passed
2/27/2025HouseH07 - Corporations:Recommend Do Pass 8-0-0-0-1
2/24/2025HouseH Placed on General File
2/24/2025HouseH Introduced and Referred to H07 - Corporations
2/18/2025HouseS 3rd Reading:Passed 20-7-4-0-0
1/20/2025SenateH Received for Introduction
1/20/2025HouseS 2nd Reading:Passed
1/17/2025SenateS COW:Passed
1/16/2025SenateS07 - Corporations:Recommend Do Pass 5-0-0-0-0
1/15/2025SenateS Placed on General File
1/15/2025SenateS Introduced and Referred to S07 - Corporations
1/14/2025SenateS Received for Introduction
1/2/2025SenateBill Number Assigned
12/20/2024
Bill Text
Engrossed
Enrolled
Introduced
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