Resolve, Directing the Superintendent of Insurance To Form a Compact with Other State Commissioners of Insurance on the Purchase of Insurance out of State

Sec. 1. Compact. Resolved: That the Superintendent of Insurance shall meet with the commissioners of insurance from the State of Connecticut, the Commonwealth of Massachusetts, the State of New Hampshire, the State of Rhode Island and the State of Vermont to develop a plan to form a compact between the states regarding the purchase of insurance out of state. The compact developed must include language that allows a resident of this State that encounters problems with insurance that was purchased from another state to be able to bring that person’s complaint to the Superintendent of Insurance for resolution; and be it further

Sec. 2. Report. Resolved: That the Superintendent of Insurance shall report the findings under section 1 to the Joint Standing Committee on Insurance and Financial Services by January 12, 2012. The Joint Standing Committee on Insurance and Financial Services may submit legislation to the Second Regular Session of the 125th Legislature based on the report submitted by the Superintendent of Insurance.

summary

This resolve directs the Superintendent of Insurance to meet with the commissioners of insurance of the State of Connecticut, the Commonwealth of Massachusetts, the State of New Hampshire, the State of Rhode Island and the State of Vermont to develop a plan to form an interstate compact regarding the purchase of insurance from other states. The commissioner is required to report by January 12, 2012 to the Joint Standing Committee on Insurance and Financial Services, which may submit legislation to the Second Regular Session of the 125th Legislature.