Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee approves broad insurance bill after weeks of negotiation over rebating, crop insurance and arbitration
Summary
The Senate Industry and Business Committee voted 5-0 to give a do‑pass recommendation to a major insurance bill after adopting a package of amendments that carve out federal crop insurance from rebating rules, tighten claim reopening timelines, and adjust definitions for large commercial risks and arbitration for surplus lines.
The Senate Industry and Business Committee voted unanimously to give a do‑pass recommendation on Senate Bill 23‑74 after adopting a package of amendments that address rebating rules, crop insurance, supplemental claim time limits and arbitration for surplus lines.
Johannes Palsgraf, general counsel for the North Dakota Insurance Department, walked the committee through the department’s proposed amendments and the industry‑negotiated language. Palsgraf said the department removed sections over NAIC accreditation concerns, carved federal crop insurance out of rebating rules, and worked with industry to shorten the supplemental claim reopening window to 12 months (down from an originally proposed 18 months).
John Godfrey, North Dakota Insurance Commissioner, said the bill is intended to ‘‘improve North Dakota’s market’’ and described three implementation options the committee could adopt:…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
