AN ACT relating to regulatory authorizations by the commissioner of insurance.

Summary

The bill lets a financially healthy insurance company choose to shut down, but only after filing a detailed plan that the commissioner must approve. It also stops the creation of new workers' compensation self‑insured groups, while setting rules for mutual insurance associations to secure claim payments. The changes aim to protect policyholders, members, and creditors during dissolutions and to tighten oversight of self‑insurance arrangements.

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