summary
Introduced
04/15/2015
04/15/2015
In Committee
04/15/2015
04/15/2015
Crossed Over
Passed
Dead
07/31/2016
07/31/2016
Introduced Session
189th General Court
Bill Summary
For legislation relative to the Massachusetts insurers insolvency fund. Financial Services.
AI Summary
This bill proposes to increase the maximum amount of coverage provided by the Massachusetts Insurers Insolvency Fund, which acts as a safety net for policyholders if an insurance company becomes unable to pay claims due to insolvency. Specifically, it amends Chapter 175D of the General Laws by raising the per-claim limit from three hundred thousand dollars to six hundred thousand dollars, meaning the fund will cover a larger portion of individual claims in the event of an insurer's financial failure.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Accompanied a study order, see S2318 (on 06/06/2016)
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/189/Senate/S547 |
| State Bill Page | https://malegislature.gov/Bills/189/S547 |
| Bill | https://malegislature.gov/Bills/189/S547.pdf |
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