AN ACT CONCERNING A WORKING GROUP TO STUDY PAYMENTS BY INSURANCE COMPANIES FOR DEPOSIT INTO THE INSURANCE FUND.

This bill requires domestic insurance companies and related entities to make annual payments into the state Insurance Fund to cover specific government expenses. The payments are calculated based on the actual costs incurred by the Insurance Department, the Office of the Healthcare Advocate, the Office of Health Strategy, and the fall prevention program, while excluding foreign insurers and fraternal benefit societies. To ensure accuracy, the bill establishes a process where the Insurance Commissioner sends each liable company a detailed statement listing the specific amounts owed and their proportionate share of total taxes before the due date. Any company that disagrees with its assessment can appeal the decision through the existing legal procedures outlined in the state statutes.