FIN Committee Session, 3/26/2026 #1

Finance Committee · March 26, 2026

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Mutual insurance holding company conversion bills (HB 1616 / SB 982)

Presentation

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Delegate Mike Rogers introduced House Bill 1616 (identical to Senate Bill 982) to create a statutory pathway allowing mutual insurance holding companies that remain 100% policy‑owned to convert back to mutual insurers; he said the Maryland Insurance Administration reviewed the approach, raised no concerns, and found no fiscal impact. Gregory Ball, an intern speaking for Senator McCray, outlined SB 982’s procedural safeguards including board approval, 75% voting member consent, and Maryland Insurance Commissioner review.

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Senate Finance Committee heard a batch of House and Senate cross-filed bills covering insurance company conversions, birth certificate filing deadlines, consumer contract protections, forensic autopsy practices, AI chatbot safety, community college labor definitions, and several local alcohol-license changes.

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Transcript

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