Raised Bill No. 5251, introduced in the February Session, 2024, has been referred to the Committee on INSURANCE AND REAL ESTATE. The purpose of this bill is to mandate that the Insurance Department conduct a study on insurance issues within the state. The bill specifies that the department must submit a report on the findings of this study to the joint standing committee of the General Assembly that oversees insurance matters by January 1, 2025.

The bill includes an insertion that indicates a new section will be added to the law, effective from the date of passage, which outlines the requirement for the Insurance Department to carry out the study and report its findings. There are no deletions indicated in the text provided. The statement of purpose at the end of the bill reiterates the intent to require the Insurance Department to conduct a study concerning insurance in the state.