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Bill would let childcare centers, foster homes form pooled risk programs to lower liability costs
Summary
SB 6 14 would authorize child-care centers and foster-family homes to form regulated pooled-risk programs (captives) subject to audits and actuarial review to reduce rising liability insurance costs; the insurance department said scale and oversight are essential and suggested considering regional pools.
Senator Denise Ricciardi presented SB 6 14 to allow child-care centers and foster family homes to form risk pools to share liability and property coverage, subject to oversight by the Secretary of State, annual financial audits and actuarial review. Her stated goal was to lower overhead costs that threaten provider viability and limit childcare supply.
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