Bill > H1121

This bill directs the Massachusetts commissioner of insurance to conduct a comprehensive study on property insurance premiums affecting non-profit organizations. Specifically, the commissioner must investigate three key areas: (1) the underlying reasons for rising property insurance premiums in the state, (2) the availability of property insurance in the market for non-profit organizations, including those considered "high-risk" (which typically means organizations with a higher likelihood of insurance claims), and (3) exploring the potential development of a commercial insurance policy clearinghouse through the Massachusetts FAIR Plan (a state-mandated insurance program designed to provide coverage to property owners who cannot obtain insurance through traditional markets). The commissioner is required to complete this investigation and submit detailed findings and recommendations to the joint committee on financial services and the house and senate committees on ways and means by December 31, 2026, with the goal of understanding and potentially addressing challenges non-profit organizations face in obtaining affordable property insurance.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/194/H1121