Senate Bill No. 258 mandates the Insurance Commissioner to conduct a study on property and casualty insurance issues within the state. The findings of this study must be reported to the relevant joint standing committee of the General Assembly by January 1, 2027. The bill introduces new legal language that establishes this requirement, specifically noted as Section 1 from passage New section, while adhering to standard drafting conventions by changing "Department" to "Commissioner."
The bill is expected to have no fiscal impact on the state or municipalities, as the Insurance Department possesses the necessary expertise to carry out the study without incurring additional costs. The legislative committee has reported the bill favorably, with a vote of 12 in favor and 1 against.