Page:2021 North Dakota Session Laws.pdf/881

Insurance INSURANCE

CHAPTER 226

SENATE BILL NO. 2287

(Senators Wardner, Anderson, Bell)

(Representatives Delzer, Kreidt, Nehring)

AN ACT to provide for an insurance commissioner study of lignite coal industry insurance; and to provide for a report to the legislative management.

BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:

SECTION 1. STUDY OF LIGNITE COAL INDUSTRY INSURANCE - REPORT TO THE LEGISLATIVE MANAGEMENT. During the 2021-22 interim, the insurance commissioner, in consultation with the North Dakota insurance reserve fund, shall study the availability, cost, and risks associated with insurance coverage in the lignite coal industry. The study must include consideration of whether the current insurance market adequately or appropriately calculates the risk factors specifically connected to the coal industry and whether there is a need for a state-based insurance product that insures against current risk factors at an appropriate cost. The insurance commissioner shall report its findings to the legislative management and implement any necessary recommendations by June 1, 2022.

Approved March 15, 2021

Filed March 15, 2021