H 1399: Property Insurance Affiliates

Summary

Requires insurers to provide to OIR documentation demonstrating that financial considerations & payments to affiliates are fair & reasonable; requires office to consider certain factors to determine whether such considerations & payments are fair & reasonable; requires compensation arrangements between insurers & affiliates to be structured as fees for service; requires insurers to submit, & office to review, audited financial statements; requires contracts between insurers & affiliates to contain certain provisions; authorizes office to issue orders restricting fund transfers from insurers to affiliates under certain circumstances; requires affiliates to make certain refunds under certain circumstances; provides authority of office over affiliate dividends; requires affiliates to register with office.

Latest recorded action

No action recorded yet.

Mar 13, 2026

This is the latest action supplied by the source, not the full legislative history.

Track bills like this one

Mandate alerts you when a bill that matters to your organization moves, and explains what it means.