Secretary of State and actuaries push solvency guardrails for pooled risk programs; stakeholders debate model

The House Commerce Committee held a lengthy hearing on Senate Bill 297, a proposal to add solvency guardrails, reporting requirements and emergency assessment mechanisms for public entity pooled risk management programs governed by RSA 5‑B.

Secretary of State David Scanlon said the bill responds to a two-year sequence of financial stress in pooled public risk programs, including the unexpected closure announcement this month by one pool, New Hampshire Interlocal Trust (NHIT). "Back in 2023, HealthTrust came into my office and self-reported that there were financial concerns about the level of reserves they had on hand to be able to pay their claims," Scanlon said. The secretary’s office commissioned actuarial analyses and worked with stakeholders to craft the bill.

The measure would establish a contingency-reserve target range for health lines (12%–16% of expected claims and administration costs, with a constrained option to request up to 18%) and a higher range for property and casualty lines…