This bill introduces a new chapter in New Hampshire law titled "Multiple-Caregiver Self-Insured Risk Coverage Arrangements," allowing two or more nonprofit and for-profit providers of child care, day care, foster care, and behavioral health services to create joint self-insurance arrangements for liability risks. The bill defines key terms such as "covered entity," "liability risks," and "self-insurance," and clarifies that these arrangements will not be classified as insurance companies, thus exempting them from certain regulations and taxes. It outlines the requirements for formation and operation, including the need for approval from the commissioner of the insurance department, who will verify the arrangements and impose penalties for non-compliance.

The bill mandates that these arrangements be governed by formal documents and operated by a board of trustees or officers with fiscal control. It prohibits any entity that terminates its participation from rejoining for two years and restricts public advertising of the arrangements. The commissioner is granted authority to examine the financial conditions of these arrangements, enforce compliance, and issue penalties for violations. The bill also includes provisions for annual reporting, corrective action plans for financial inadequacies, and a timeline for resolving issues. It is set to take effect on July 1, 2027.