The General Assembly Raised Bill No. 5371 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 January 1, 2027. This initiative aims to enhance understanding and oversight of insurance practices in the state.
The bill introduces new legal language, specifically Section 1 from passage New section, which outlines the requirement for the study and the timeline for the report. There are no deletions from current law as indicated by the markers, which suggest that the proposed changes are entirely new provisions rather than amendments to existing statutes.