MA S586

Bill

Relative to single risk limitations

Introduced
01/23/2017

In Committee
09/07/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to single risk limitations. Financial Services.

AI Summary

This bill amends Section 21 of Chapter 175 of the General Laws to include financial insurance companies under the single risk limitations. It also specifies that a financial guaranty insurance company licensed to transact insurance in the Commonwealth shall be subject to the laws of the state in which it is domiciled for the purposes of the single risk limitations. The bill provides a definition for "financial guaranty insurance company" as an entity that primarily issues insurance policies, surety bonds, indemnity contracts, or other similar guarantees, where loss is payable upon proof of a financial loss to the insured.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (1)

Michael Rodrigues (D),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 09/07/2017)

Official Document

https://malegislature.gov/Bills/190/S586

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S586
Bill	https://malegislature.gov/Bills/190/S586.pdf

Bill	Bill Name	Last Action	Type
H2186	Relative to single risk limitations	Read second and ordered to a third reading	Similar To
H2961	Relative to insurance company rebates	Accompanied a study order, see H4778	Similar To
H3661	To help small fraternal insurance companies	Accompanied a study order, see H4778	Similar To
H479	Relative to arbitration for automobile insurance property damage	Accompanied a study order, see H4778	Similar To
H481	Authorizing insurance providers to extend motor vehicle liability insurance rebates to customers with safe driving records	Accompanied a study order, see H4778	Similar To
H746	Providing for equitable rights to indemnity for public employees	Accompanied a study order, see H4874	Similar To
S509	Relative to insurance companies and quality measures	Accompanied a study order, see S2496	Similar To
S536	Relative to continuing education of insurance producers	Bill reported favorably by committee and referred to the committee on Senate Rules	Similar To
S561	Relative to executive compensation for mutual companies	Accompanied a study order, see S2496	Similar To

Bill > S586

MA S586

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary