Bill > HB05437

This bill requires the Insurance Commissioner to conduct a comprehensive feasibility study exploring the potential for nonprofit entities to create a shared insurance pool covering liability insurance, specifically focusing on general liability and automobile liability insurance policies. The study aims to evaluate whether multiple nonprofit organizations can join together to collectively manage and potentially reduce their insurance costs by pooling their policies. By examining the viability of such an insurance arrangement, the bill seeks to provide insights into a potential cost-saving strategy for nonprofit organizations, which often operate with limited financial resources. The study would likely assess legal, financial, and practical considerations involved in creating a cooperative insurance arrangement among nonprofits, potentially offering recommendations for implementation if deemed feasible.

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https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05437&which_year=2025