visimoney
TLDR:
– The House Committee on Banking & Insurance advanced six bills during their recent meeting.
– One of the bills, House Bill 4753, requires insurance coverage for biomarker testing, which can help identify appropriate treatments for cancer patients.
– Another bill, House Bill 4823, establishes the West Virginia Public Adjuster Professional Standards Reform Act, which creates requirements and regulations for public adjusters.
– House Bill 4786 establishes the Delivery Network Company Insurance Act, which provides insurance requirements for companies that provide delivery services.
– House Bill 4809 exempts health care sharing ministries from the state’s insurance laws.
– House Bill 4837 clarifies the duty of banks to retain and procure records and modifies the statute of limitations for certain actions.
– House Bill 4801 establishes prohibited clauses in state banking contracts and removes a specified date for the Public Deposits Act.
During a recent meeting, the House Committee on Banking & Insurance advanced six bills that cover a wide range of topics related to insurance and financial services. One of the bills, House Bill 4753, seeks to require insurance coverage for biomarker testing. This type of testing is used to identify the presence of certain biomarkers in tissue, blood, and other biospecimens, which can then be used to determine appropriate treatments for cancer patients. The bill aims to ensure that insurance companies provide coverage for this type of testing in order to improve outcomes for patients.
Another bill that advanced during the meeting was House Bill 4823, which establishes the West Virginia Public Adjuster Professional Standards Reform Act. This bill creates a set of standards and regulations for public adjusters, who are individuals or companies that help policyholders navigate the claims process with their insurance companies. The bill establishes requirements for licensure, outlines the rights of insured individuals, and sets rules and penalties for public adjusters.
House Bill 4786, known as the Delivery Network Company Insurance Act, was also advanced by the committee. This bill provides insurance requirements for companies that provide delivery services, such as UberEats or DoorDash. If an individual’s personal auto insurance policy does not provide coverage for deliveries, the bill requires the delivery company to provide a policy and ensure that the individual has access to the policy information.
House Bill 4809 seeks to exempt health care sharing ministries from the state’s insurance laws. These ministries are religious organizations that provide a form of health coverage to their members through the sharing of medical expenses. The bill aims to clarify that these organizations are not subject to regulation as insurance providers.
Two additional bills were advanced during the meeting: House Bill 4837 and House Bill 4801. House Bill 4837 clarifies the duty of banks to retain and procure records and modifies the statute of limitations for certain actions. House Bill 4801 establishes prohibited clauses in state banking contracts and removes a specified date for the Public Deposits Act.
Overall, these bills cover a variety of insurance and financial topics and aim to improve regulations and coverage for individuals and businesses in West Virginia.
