Bill > H4061

This bill proposes to enhance workers' compensation insurance oversight by requiring the commissioner of insurance to create and maintain a publicly accessible online database for insurance certificates. The database will include key details such as the name of the insured person, the insurance company, and the policy expiration date. Insurance companies will be mandated to submit each certificate they issue to this database and report the name of the insurance broker or agent involved in the sale. Each certificate must also include a QR code linking directly to the database, along with information about the number of employees and estimated payroll per employee classification. The bill further empowers the commissioner to investigate and examine potential insurance premium or workers' compensation fraud, including cases where an entity attempts to avoid audits or investigations. Additionally, the commissioner is authorized to develop specific regulations to implement these new requirements, ensuring transparency and accountability in workers' compensation insurance practices.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/194/H4061