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Panel hears auditors and insurer reps on Montana Reinsurance Program statutory change
Summary
House Bill 281 would make the Montana Reinsurance Program a statutory appropriation to smooth large year‑to‑year fluctuations and let the auditor request additional authority when state special revenue is available; witnesses said the program helped reduce individual market premiums by about 9–10% and that funding volatility complicates timely carrier payments.
Representative Ken Walsh opened on House Bill 281, a measure from the state auditor's office to make changes to the Montana Reinsurance Program's statutory appropriation so the program can operate more flexibly and pay carriers on time. Walsh described a shortfall in FY24 that required a fiscal transfer and a supplemental request and said statutory appropriation would allow the auditor to request…
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