South Dakota will create a new "insurance innovation waiver" program that allows companies to temporarily test new insurance products and services using emerging technologies like blockchain without meeting all normal licensing requirements. The bill defines what qualifies as an innovative product (one using new or existing technology in a way not commonly offered in the state) and sets up a framework where the state can authorize limited testing of these products with consumers. This gives insurers and insurance-related businesses a way to experiment with new ideas while protecting consumers through state oversight rather than blocking innovation entirely.
This bill does not directly amend codified state law.
Signed by the Governor S.J. 458
Delivered to the Governor S.J. 375
Signed by the President S.J. 369
Signed by the Speaker H.J. 435
House of Representatives Do Pass Amended Passed, YEAS 68, NAYS 0. H.J. 400
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 12, NAYS 0.
Commerce and Energy Scheduled for hearing
House of Representatives Referred to House Commerce and Energy H.J. 279
First Reading House H.J. 226
Senate Do Pass Amended Passed, YEAS 32, NAYS 0. S.J. 185
Commerce and Energy Do Pass Amended Passed, YEAS 9, NAYS 0. S.J. 5
Commerce and Energy Motion to amend S.J. 4
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 12
Do Pass Amended
Commerce and Energy — Do Pass
Do Pass Amended
Commerce and Energy — Do Pass Amended