The Committee on Banking Insurance met this morning to consider the following bills:
House Bill 4753 requires insurance coverage for biomarker testing. Biomarker testing is analyzing tissue, blood, and other biospecimen for the presence of a biomarker. It can be used for identifying correct cancer treatment. There’s been promise in using it to identify MS and Alzheimer’s. The bill requires public and private insurance companies to provide coverage in order to give patients the best possible outcome. The bill advances.
House Bill 4823 creates the West Virginia Public Adjuster Professional Standards Reform Act. The bill creates applications for licensure and insured’s rights. It provides requirements for funds received or held by a public adjuster. The bill creates fees and commissions for a public adjuster. The bill creates rules and penalties. A public adjuster represents an individual against an insurance company’s private adjusts. The bill was amended and advanced.
House Bill 4786 creates the Delivery Network Company Insurance Act. The bill provides for insurance requirements. If the individual’s auto insurance doesn’t provide coverage for deliveries, the Delivery Network Company must provide a policy and make sure the individual has access to the policy information. Delivery Service time is when the driver is logged on to the delivery systems. The amended bill advances to the Judiciary Committee.
House Bill 4809 creates the Health Care Sharing Ministries Freedom to Share Act, which would exempt health care sharing ministries from the state’s insurance laws. The bill advances to the Judiciary.
House Bill 4837 clarifies the duty of banks to retain and procure records. The bill also modifies the statute of limitations for actions to enforce a demand to be uniform with the timeframe for property abandonment. The bill provides a presumption of payment by the bank absent evidence of owner consent to renewal or escheatment to the state. The bill advances.
House Bill 4801 establishes prohibited clauses in State banking contracts and removes the date on which the Public Deposits Act must be operable under the WV Security for Deposits Act to allow discretion for program implementation. The bill advances to the Judiciary.
