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Legislation and Rulemakings

On this page, DISB provides links to District of Columbia legislation and rulemakings impacting our agency that were enacted or adopted recently. Please follow the links listed below. (If a pop-up box appears, select cancel to move forward.)

Enacted Legislation:

A20-0347: Life and Health Insurance Guaranty Association Consumer Protection Amendment Act of 2013 (effective July 23, 2014) 
Summary: The act amends the Life and Health Insurance Guaranty Association Act of 1992 to increase coverage levels for major medical, disability, long-term care, fixed annuity, and structured settlement annuity contracts, and certain retirement benefit plans established under the Internal Revenue Code, to require that the Board of Directors of the District of Columbia Life and Health Insurance Guaranty Association develop policies and procedures for addressing conflicts of interest, including procedures for board members to be removed for cause, to increase the time period in which state court proceedings against an insolvent insurer are stayed from 60 to 180 days, and to make certain other clarifying and conforming amendments.

A20-0339: Underinsured Motorist Carrier Fairness Amendment Act of 2013 (effective July 15, 2014)
Summary: The act amends the Compulsory/No-Fault Motor Vehicle Insurance Act of 1982 to require action by an underinsured motorist insurer when liability insurance is exhausted.

A20-0156: Saving D.C. Homes from Foreclosure Amendment and Title Insurance Clarification Amendment Act of 2013 (effective Nov. 5, 2013)
Summary: The act amends the District of Columbia Saving D.C. Homes from Foreclosure Amendment Act of 2010 (Saving D.C. Homes) and various title insurance acts. Saving D.C. Homes was enacted in recognition of the fact that District of Columbia foreclosure laws did not provide adequate protection for District of Columbia homeowners and the various title insurance acts were enacted to provide consumer protection tools to the Commissioner and the public. 

A20-0119: Telehealth Reimbursement Act of 2013 (effective Oct. 17, 2013)
Summary: The act requires private health insurance and Medicaid coverage for services delivered through telehealth.

A20-0095: DC Fire & Casualty Amendment Act of 2013 (effective Sept. 19, 2013)
Summary: The act amends the District of Columbia Fire and Casualty Act to require homeowners insurance companies to clearly state that homeowner’s insurance does not cover all risks and to list the additional optional coverage available to the homeowner; to require the homeowners insurance company to notify applicants that homeowner’s insurance does not cover losses from flood and to explain how flood insurance may be obtained.

B20-800: NMLS Conformity Emergency Act of 2014 (effective June 24, 2014)
Summary: To standardize, on an emergency basis, licensing and registration application requirements using the Nationwide Mortgage Licensing System and Registry (NMLS) for all non-depository financial institutions regulated through the administration of the District of Columbia Banking Code, to require each applicant obtain a unique identifier from and apply through the NMLS, to authorize the Commissioner to waive or modify any of the requirements of this Act or other application requirements in the Banking Code and to establish new requirements as needed to participate in the

NMLS, to authorize use of the NMLS for criminal history background checks and credit checks as necessary, to allow the Commissioner to share confidential information with specified third parties including the NMLS, to authorize the Commissioner to contract with third parties to collect fees and share information and maintain records, to authorize license renewal and reinstatement periods, to provide for the payment of non-refundable application fees, to provide that the Commissioner shall report Banking Code Violations and enforcement actions to the NMLS, to require the Commissioner to establish an information challenge process for data entered into the NMLS, and to provide that the Commissioner may promulgate regulations to implement this Act.

Pending Legislation:

B20-801: NMLS Conformity Temporary Act 2014 / B20-802: NMLS Conformity Act of 2014
Summary: To standardize, on a temporary and permanent basis, licensing and registration application requirements using the Nationwide Mortgage Licensing System and Registry (NMLS) for all non-depository financial institutions regulated through the administration of the District of Columbia Banking Code, to require each applicant obtain a unique identifier from and apply through the NMLS, to authorize the Commissioner to waive or modify any of the requirements of this Act or other application requirements in the Banking Code and to establish new requirements as needed to participate in the NMLS, to authorize use of the NMLS for criminal history background checks and credit checks as necessary, to allow the Commissioner to share confidential information with specified third parties including the NMLS, to authorize the Commissioner to contract with third parties to collect fees and share information and maintain records, to authorize license renewal and reinstatement periods, to provide for the payment of non-refundable application fees, to provide that the Commissioner shall report Banking Code Violations and enforcement actions to the NMLS, to require the Commissioner to establish an information challenge process for data entered into the NMLS, and to provide that the Commissioner may promulgate regulations to implement this Act.

B20-797: Federal Health Reform Implementation and Omnibus Amendment Act of 2014
Summary: The purpose of the bill is to grant the Commissioner of the Department of Insurance, Securities and Banking the authority enforce the health insurance market provisions of the Affordable Care Act and implement other provisions, such as establishing rating standards be used by health insurance issuers when setting rates, providing uniform definitions for small and large employers, defining excepted benefits and regulating stop-loss insurance.

B20-774: Captive Insurance Company Amendment Act of 2014
Summary: The purpose of the bill is to amend the Captive Insurance Company Act of 2004 and the Risk Retention Act of 1993 to strike references to outmoded segregated accounts that are no longer regulated by DISB; clarify the statutory requirements for protected cell captive insurers and their protected cells; clarify the confidentially of captive insurers’ license application materials; permit DISB to waive certain examination requirements; make the Unfair Trade Practices and Claims Settlements Act applicable to District-domiciled risk retention groups licensed as captive insurers.

B20-673: District of Columbia Transaction Modernization Electronic Delivery or Posting Act of 2014
Summary: The purpose of the bill is to allow the Department of Insurance, Securities and Banking to transmit electronic notices of documents related to insurance and insurance policies under certain circumstances and the posting of property and casualty insurance policies and endorsements where certain conditions are met.

B20-537: Insurance Holding Company and Credit for Reinsurance Modernization Amendment Act of 2013 
Summary: The purpose of the bill is to modernize how the District regulates insurance holding companies and their subsidiaries, and the process by which insurance companies can obtain credit for reinsurance. More specifically, Title I of the Bill amends the Holding Company System Act of 1993 to impose additional reporting requirements on insurance holding companies regarding information pertaining to subsidiaries of insurers, the acquisition of control of or mergers with domestic insurers, acquisitions involving insurers not otherwise covered, and the registration of insurers; enhance standards for the management of insurers within a holding company system regarding their “enterprise risks” and other matters; and authorize the Commissioner to initiate and participate in “supervisory colleges.”

Final Rulemakings:

ID:4966029 – Notice of Final Rulemaking – Amending Foreclosure Mediation Program Rules (effective June 27, 2014)
Summary: This rulemaking is necessary to implement the amendments to Section 539b of the Act made by the Saving D.C. Homes from Foreclosure Clarification and Title Insurance Clarification Amendment Act of 2013, effective November 5, 2013 (D.C. Law 20-40; D.C. Official Code § 42-815.02) (the “2013 Law”).  The rules clarify the operation of the foreclosure mediation program (Program) in the Department. The Program assists homeowners and provides, where appropriate, an alternative to foreclosure.

Proposed Rulemakings:

ID: 5031504 - Notice of Proposed Rulemaking on the District of Columbia-Only Securities Offerings Exemption
Summary: The proposed rulemaking would establish a localized exemption from the District’s full securities registration requirements in order to simplify and encourage investing in D.C.-based small businesses. To qualify for the exemption, the business must be organized under D.C. law, have its principal place of business in the District and the securities in the offering must be offered only to D.C. residents. The proposed method of funding (up to $2 million) will be available only to D.C.-based businesses, and the offerings must be in compliance with the limitations on intrastate offerings under the federal Securities Act of 1933 and the implementing regulation. The proposed rulemaking was published August 8, 2014 with a 30-day comment period. Comments are due by Sept. 6, 2014.

View final rulemakings that were adopted.

To view legislation that has been enacted, choose from the links below.
LIMS (Council Period 20 (January 2014 to present)
LIMS (Prior Council Periods)

*Pending congressional approval