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SENATE DOCKET, NO.                 FILED ON: 5/14/2014

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2144

Thursday, May 15, 2014 - Substituted by amendment (Senator Wolf) for the Senate Bill creating the Cape and Islands Property Insurance Commission (Senate, No. 980).

 

The Commonwealth of Massachusetts

 

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In the Year Two Thousand Fourteen

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Resolve creating the Cape and Islands Property Insurance Commission.

 

Resolved,               That 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, Inc. or a designee; a representative of the mutual insurance industry of Massachusetts or a designee; the executive director of the Cape Cod commission or a 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 Inc, a consumer group with experience advocating for equitable property insurance rates in Massachusetts; the attorney general or a designee; a member appointed by the senate president; and a member appointed by the speaker of the house.

              The commission’s review shall include, but not be limited to, the following:

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

              (ii) 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;

              (iii) an examination and report on past property insurance pricing; and

              (iv) an examination and report on expected future property insurance pricing.

              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 not later than May 1, 2015.

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