The General Assembly Raised Bill No. 7079 mandates the Insurance Commissioner to conduct a study on insurance regulation within the state. The bill requires the commissioner to submit a report detailing the findings of this study to the relevant joint standing committee of the General Assembly by February 1, 2026. This initiative aims to enhance understanding and oversight of insurance practices in the state.
The bill introduces new legal language that establishes the requirement for the study and report, specifically noted as Section 1 from passage New section. There are no deletions from current law in this bill, as indicated by the absence of any text marked for deletion. The overall purpose of the bill is to improve the regulatory framework governing insurance in the state.