summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2022
03/29/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to special insurance brokers. Financial Services.
AI Summary
This bill amends a section of Massachusetts law related to special insurance brokers. The key changes are: (1) It removes the requirement for special insurance brokers to complete an affidavit when renewing, continuing, or extending an insurance policy with the same insurance company, as long as the broker had previously completed an affidavit for that policy. (2) It requires the special insurance broker to 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 still be kept on file by the broker and made available to the state insurance division for examination or audit.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
No further action taken (on 01/03/2023)
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/H1082 |
| Bill | https://malegislature.gov/Bills/192/H1082.pdf |
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