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Bill > H974


MA H974

Relative to special insurance brokers


summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to special insurance brokers. Financial Services.

AI Summary

This bill amends Section 168 of Chapter 175 of the General Laws to exempt special insurance brokers from having to complete a new affidavit when renewing, continuing, or extending an insurance policy with the same insurance company, as long as the broker has previously completed an affidavit for that policy. However, the broker must confirm that the insurer is on the Division of Insurance's list of approved surplus lines insurance companies before renewing, continuing, or extending the policy. The affidavit remains on file with the broker and is available to the Division of Insurance for examination or audit.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Accompanied a study order, see H5160 (on 12/01/2020)

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