summary
Introduced
03/29/2021
03/29/2021
In Committee
02/17/2022
02/17/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
For legislation relative to special insurance brokers and continuous affidavits. Financial Services.
AI Summary
This bill amends a provision in the Massachusetts General Laws related to special insurance brokers and continuous affidavits. The key change is that for any insurance policy that is renewed, continued, or extended by the same insurance company, the special insurance broker is no longer required to complete a new affidavit, as long as they have previously filed an affidavit for that policy. However, the broker must still confirm that the insurer is on the state's approved list of surplus lines insurance companies before renewing, continuing, or extending the policy. The affidavit must remain on file with the broker and be available for examination or audit by the Division of Insurance.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 02/17/2022)
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/192/S710 |
| Bill | https://malegislature.gov/Bills/192/S710.pdf |
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