Bill
Bill > H928
summary
Introduced
01/22/2019
01/22/2019
In Committee
03/02/2020
03/02/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to modernize business to business commercial insurance transactions. Financial Services.
AI Summary
This bill aims to modernize business-to-business commercial insurance transactions by exempting certain "specialty commercial lines" of insurance from rate and policy form filing requirements. The bill defines "specialty commercial lines" to include various types of commercial insurance, such as aircraft liability, surety, inland marine, and cyber security coverage. The bill also expands the definition of "large commercial policyholder" to include entities with certain characteristics, such as a net worth of at least $10 million or more than 25 employees. This change would allow these larger commercial policyholders to have more flexibility and less regulatory oversight in their insurance transactions.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
Bill reported favorably by committee and referred to the committee on House Ways and Means (on 03/02/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H928 |
| Bill | https://malegislature.gov/Bills/191/H928.pdf |
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