Chapter 40M

Section 1. Five or more public entities may participate in an organization in which the governmental units are members, and agree to effect such property and casualty insurance coverage as the governmental unit may otherwise purchase by itself. A self-insurance group that is issu…

Section 10. (A) Each group shall submit to the commissioner of insurance thirty days before the end of its policy year a performance report estimating total outstanding liability, including incurred but not reported claims, for that policy year. (B) Each group shall submit to the…

Section 11. (A) A group shall file with the commissioner its rating plan. (B) Each group shall be audited at least annually by an auditor acceptable to the commissioner to verify proper rating. A report of the audit shall be filed with the commissioner in a form prescribed by the…

Section 12. (A) Any monies for a fund year in excess of the amount necessary to fund all obligations, including reserves for claims and reserves for incurred but not reported claims for that fund year may be declared to be refundable by the board of trustees not less than six mon…

Section 13. (A) Each group shall establish to the satisfaction of the commissioner a premium payment plan in which at least thirty-three per cent of each members estimated net annual premium is payable at the start of the groups fund year and payment of the balance of each member…

Section 14. (A) If the assets of a group are at any time insufficient to enable the group to discharge its legal liabilities and other obligations and to maintain the reserves required of it under this chapter, it shall forthwith make up the deficiency or levy an assessment upon …

Section 15. After notice and opportunity for a hearing, the commissioner may issue an order requiring a person or public employer self-insurance group to cease and desist from engaging in an act or practice found to be in violation of any provision of this chapter or of any rules…

Section 16. (A) After notice and opportunity for a hearing, the commissioner may revoke a public employer self-insurance group's certificate of approval if it (1) is found to be insolvent, (2) fails to pay any regulatory fee or assessment, imposed upon it, or (3) fails to comply …

Section 17. Notwithstanding any general or special law to the contrary, chapter 176V shall apply to groups governed by this chapter.

Section 2. ''Administrator'', an individual, partnership, corporation, or unincorporated association engaged by a public employer self-insurance group's board of trustees and to provide day to day management of the group. ''Commissioner'', the commissioner of insurance. ''Insolve…

Section 3. No person, association or other entity shall act as a public employer self-insurance group unless it has been issued a certificate of approval by the commissioner.

Section 4. (A) A proposed public employer self-insurance group shall file with the commissioner its application for a certificate of approval accompanied by a nonrefundable filing fee in the amount of one hundred dollars. The application shall include the group's name, location o…

Section 5. (A) The certificate of approval issued by the commissioner to a public employer self-insurance group authorizes the group to provide insurance coverage. The certificate of approval remains in effect until terminated at the request of the group or revoked by the commiss…

Section 6. The commissioner may examine the affairs, transactions, accounts, records and assets of each group as often as the commissioner deems advisable. Notwithstanding any other provision of the General Laws, including clause Twenty-sixth of section 7 of chapter 4 and chapter…

Section 7. Each public employer self-insurance group shall be operated by a board of trustees which shall consist of not less than three persons who are elected officials or employees of public entities within this commonwealth. The board of trustees of each group shall ensure th…

Section 8. (A) A public employer joining a public employer's self-insurance group after the group has been issued a certificate of approval shall submit an application for membership to the board of trustees or its administrator. Membership takes effect no earlier than each membe…

Section 9. Except for trustees, officers, directors or salaried employees of a group or its administrator, any person soliciting membership in a property and casualty self-insurance group must be a licensed agent as provided by section sixty-three of chapter one hundred and seven…