SECTION 1. There shall be a special commission to review the feasibility of creating a county managed property insurance entity to serve the counties of Barnstable, Dukes and Nantucket.  The commission shall consist of: the Commissioner of the Division of Insurance or a designee;  a representative of the Massachusetts Property Insurance Underwriting Association or a designee; a representative of the Massachusetts Interlocal Insurance Association or a designee; a representative of the mutual insurance industry of Massachusetts or a designee; the executive director of the Cape Cod Commission or his designee;  a Barnstable County Commissioner or a designee; a Dukes County Commissioner  or a designee; a Nantucket County Commissioner or a designee; a representative of Citizens for Homeowners Insurance Reform, a consumer group with experience advocating for equitable property insurance rates in Massachusetts; the Massachusetts Attorney General or a designee; a member appointed by the Senate President; and a member appointed by the Speaker of the House.

SECTION 2. The Commission’s review shall include but not be limited to the following:

(a) A cost-benefit analysis of a county-managed property insurance office providing service to property owners in Barnstable, Dukes and Nantucket counties;

(b) An examination and report on the legal and regulatory changes needed to create a county property insurance entity, including review of best practices from other governmental entities;

(c) An examination and report on past property insurance pricing;

(d) An examination and report on expected future property insurance pricing;

SECTION 3. The Commission shall file a report of its findings including any legislative or regulatory recommendations, with the clerks of the House of Representatives and the Senate on or before May 1, 2014.