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Bill > S575


MA S575

MA S575
Relative to the Massachusetts insurers insolvency fund


summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to the Massachusetts insurers insolvency fund. Financial Services.

AI Summary

This bill amends the Massachusetts insurers insolvency fund law by increasing the maximum amount of coverage for policyholders from $300,000 to $600,000. The Massachusetts insurers insolvency fund is a state-administered program that provides protection to policyholders in the event that an insurance company becomes insolvent and unable to pay claims. This change is intended to provide greater financial protection for consumers who hold policies with insurance companies that may fail.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Accompanied a study order, see S2496 (on 04/30/2018)

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