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Panel endorses revised SB 297 to clarify oversight of public-entity risk pools
Summary
The committee advanced SB 297 as amended to preserve secretary of state oversight for member‑owned RSA 5‑B pools while clarifying that pools organized under RSA 420‑R would fall under the Department of Insurance; testimony from SchoolCare warned dual-regulation could raise costs for political subdivisions.
The committee voted to advance Senate Bill 297, a measure that clarifies regulatory boundaries between the Secretary of State and the Department of Insurance for public‑entity risk pools and that adds reserve and transparency safeguards for member‑owned pools.
Representative Miles moved the amendment and described it as a compromise designed to preserve the RSA 5‑B model for member‑owned pools while creating clear rules for pools that elect a different corporate structure and therefore would be regulated as insurance companies under RSA 420‑R. The amendment incorporates a prior Carson amendment requested by the Senate and adds statutory language that distinguishes the two…
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