Committee backs state-regulated risk-pool framework to help providers obtain liability coverage
After a Department of Insurance briefing, the committee adopted an amendment to create a DOI-supervised framework for risk-retention/captive-like arrangements allowing certain nonprofits and provider groups to pool liability risks when the commercial market is constrained. The amendment sets solvency, governance, reporting and DOI oversight requirements.
The full story
The committee adopted an amendment to Senate Bill 612 that establishes a regulated pathway for entities (for example, nonprofit child-care providers, foster-placement agencies, behavioral health services and certain for-profit child care) to form state-supervised risk-pooling arrangements intended to improve access to liability coverage in a hard commercial market.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in