summary
Introduced
06/01/2015
06/01/2015
In Committee
08/27/2015
08/27/2015
Crossed Over
Passed
Dead
07/31/2016
07/31/2016
Introduced Session
189th General Court
Bill Summary
For legislation to increase certain obligations, by the insurers insolvency fund, from three hundred thousand dollars to six hundred thousand dollars. Labor and Workforce Development.
AI Summary
This bill proposes to increase the financial obligations of the Massachusetts Insurers Insolvency Fund, which acts as a safety net to protect policyholders if an insurance company becomes unable to pay claims due to financial failure. Specifically, the bill would double the maximum amount the fund is obligated to pay per claim from $300,000 to $600,000, providing greater financial protection for individuals and businesses covered by insurance policies in Massachusetts.
Committee Categories
Business and Industry, Labor and Employment
Sponsors (1)
Last Action
Accompanied a study order, see H4111 (on 03/28/2016)
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/House/H3727 |
| State Bill Page | https://malegislature.gov/Bills/189/H3727 |
| Bill | https://malegislature.gov/Bills/189/H3727.pdf |
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