New Hampshire SB661 establishes standards for pooled risk management programs for political subdivisions.

New Hampshire SB661 sets forth regulations for pooled risk management programs benefiting political subdivisions. These programs can offer various insurance coverages, including casualty, property, and workers' compensation. The bill outlines governance, financial management, and operational standards for these programs. It mandates the creation of contingency reserves and member equity stabilization funds to ensure financial stability. The Secretary of State has authority to investigate, impose penalties, and enforce compliance with the chapter's provisions.

New Hampshire SB661 establishes standards for pooled risk management programs for political subdivisions.

New Hampshire SB661 sets forth regulations for pooled risk management programs benefiting political subdivisions. These programs can offer various insurance coverages, including casualty, property, and workers' compensation. The bill outlines governance, financial management, and operational standards for these programs. It mandates the creation of contingency reserves and member equity stabilization funds to ensure financial stability. The Secretary of State has authority to investigate, impose penalties, and enforce compliance with the chapter's provisions.