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Committee advances bill to extend reinsurance requirements and rename State Fire and Tornado Insurance Fund
2503476 · March 5, 2025
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Summary
House Bill 524 would extend current reinsurance requirements through 2030 and rename the "State Fire and Tornado Insurance Fund" to the "Commonwealth's Property and Casualty Insurance Fund." The committee passed the bill unanimously.
House Bill 524, proposing to extend reinsurance requirements and to rename the State Fire and Tornado Insurance Fund, passed unanimously in committee and was reported favorably with the committeeexpression that it should pass on the House floor.
Michelle McDaniel, executive director in the Office of the Controller, and Sherry…
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