BOSTON, Mass. (SHNS)–Massachusetts residents and businesses would secure stronger protections if their property and casualty insurance carriers end up going bankrupt, under a bill gaining late-session momentum on Beacon Hill.

Without debate, the House last week quietly passed a bill (H 4772) that aims to update parameters for an insurance social safety net fund, created by the Legislature in 1970, and raise the caps on property and casualty claims that have not been revised in decades. The Senate sent the redrafted bill, originally sponsored by Rep. Daniel Cahill, to the Senate Ways and Means Committee on Monday.

The bill would ensure that the Massachusetts Insurers Insolvency Fund aligns with a framework promoted by the National Association of Insurance Commissioners in 2009, said Barbara Law, who administers MIIF and is the CEO of Guaranty Fund Management Services. The bill also clarifies that MIIF covers cybersecurity insurance claims.

“The Massachusetts version of the statute was one of the oldest in the country — it has not been updated from time to time over the years,” Law told the News Service. “So there are a lot of opportunities to bring current best practices from other states to Massachusetts, plus an opportunity to increase the cap for coverages. So individuals, particularly on the property side, we would be able to ensure that there was enough coverage allowed by the law so they would have a greater likelihood of having the entirety of their claims covered.”

Weather-related events in recent years have caused property insurance insolvencies in Louisiana, Florida and South Carolina, she said.

“We wanted to be prepared if those insolvencies started to have a greater effect on Massachusetts, and we also wanted to make sure that if we start to experience that type of weather up here, that we were prepared,” Law said. “So it really is about preparedness. We wanted to make sure that our law was in shape to make sure that it afforded enough coverage for the residents in Massachusetts.”

The bill would boost the existing claims cap, such as for car accidents and environmental cases, from $300,000 to $500,000, a level already enacted in Connecticut and Rhode Island, according to testimony Law sent to the Financial Services Committee co-chairs last fall. The new limit would not apply to workers’ compensation claims, which do not have a cap and are paid by the fund for life, Law said.

Aiming to provide a safety net for Massachusetts home and property owners, the bill also proposes a $1 million cap for residential or commercial property, a policy that Law said was implemented in California after a wildfire caused an insurer to go bankrupt.

“We do recognize that Massachusetts has high reconstruction values for property, so we recommend a $1 million limit for property claims just to ensure that we keep pace with the time,” she said.

All insurance companies that are licensed to provide property and casualty coverage in the commonwealth are members of MIIF, and they contribute to the fund to help pay out claims, according to GFMS.

The Massachusetts Association of Insurance Agents supports the bill, particularly the special real property cap provision due to the “increased severity and frequency of these claims,” said CEO Nick Fyntrilakis. In written testimony, Fyntrilakis warned Massachusetts is “currently disadvantaged compared to other states” that have embraced updated insurance policies.

“This bill would enhance benefits to Massachusetts residents affected by insurer insolvencies and reduce costs to the property and casualty insurance guaranty fund framework in the Commonwealth with no tax increases or increased appropriations if enacted,” Fyntrilakis said. He added, “These updates are much-needed and, in some instances, long-overdue.”

Law said MIIF, which is regulated by the Division of Insurance, has paid roughly half a billion dollars in claims to policyholders throughout its history when small and large insurance companies were insolvent. Workers’ compensation claims have largely driven activity in the fund, though Law said MIIF has also seen bursts of activity tied to insolvencies from asbestos-related claims in the late ’80s and early ’90s and the aftermath of the 9/11 terrorist attacks.

I went deep sea fishing for the first time last week while on vacation. I have a little more respect for people who love to fish now. I didn’t understand the love of it, but now I appreciate the sport. There is a lot more finesse to fishing than I thought.

Where and what was Massachusetts biggest fish ever caught? For the purpose of this post, we are talking about freshwater fish.

There are two main lakes in the Berkshire County’s biggest city. Lake Onota and Pontoosuc Lake in Pittsfield are two busy spots when it comes to fishing whether it be summer or winter.

The photo above is courtesy of Joshua Christman on Facebook from Pittsfield’s CARP Palooza on June 15, 2024 on Pontoosuc Lake in Pittsfield and Lanesborough.

A man shows a northern pike caught in Lake Onota earlier this year. Note: this is not the actual biggest fish caught.

Two 45-inch northern pikes both caught in Lake Onota, according to mass.gov

Ashley DePaoli in 2017 (45.5 inches Lake Onota)

Craig Strong in 2021 (45.5 inches Lake Onota)

A 46 pound carp measuring 42 inches was caught in 2012 in Quinsigamond Lake in Shrewsbury MA.

A 35 pound Northern Pike measuring 47 inches was caught on Quacumquasit Pond in Brookfield, MA back in 1988.

A 27 pound Tiger Muskellunge measuring 46 inches was caught in Pontoosuc Lake in Pittsfield, MA in 2001.

“A small-business owner that’s just worried about the day-to-day doesn’t have the time to look into all that,” said Jennifer Kritzler, CALSTART’s Northeast region deputy director. ​“Mass Fleet Advisor becomes a great resource to answer those questions.”

The process begins with a brief phone call in which an organization learns more about the program and whether it would be a good fit. To be eligible, an entity must have a fleet of at least three vehicles, at least one of which must be medium- or heavy-duty. Then, the organization answers questions about its current fleet, facilities, and goals.

The program has earmarked half of its funds to work in environmental justice neighborhoods: those with high populations of color or lower average incomes, which have traditionally borne a disproportionate share of environmental burdens. Fleets that are based in or regularly drive through these areas will fall into this segment.

“We’re really trying to include a focus not only on the emissions but on the benefits of reducing air pollution in communities that are highly affected by this,” Reichert said.

The initial communication is followed by a site visit. A recent site visit in the town of Ipswich involved touring town hall, the Department of Public Works, and the Ipswich Electric Light Department. Consultants from program partner the Better Together Brain Trust talked to employees about how the town’s handful of electric vehicles are charged and deployed, what the current infrastructure is like, and what they are hoping or expecting to see as the town evolves toward greater use of electric vehicles.

The site visit helps reveal dynamics not captured by the questionnaire: In Ipswich, the assessors discovered that their initial thoughts about where chargers might work was complicated by the parking needs of the town’s Council on Aging.

“We’re getting absolutely the best information from the local experts,” said Nicole Voudren, president of the Better Together Brain Trust.

When the assessment is complete, it will provide truly useful information to the town, said Rick Mitchell, Ipswich climate resiliency manager.

“The results, when we see those, will provide a platform for intelligent decision-making,” he said. ​“We’ll have objective, independent, third-party information on the options. This helps summarize what would be a very labor-intensive undertaking in one place.”

Mass Fleet Advisor does not provide any money toward buying electric vehicles, nor does it require participants to make any purchases. However, up to 75 participants that decide to implement some or all of its plans will also be able to receive assistance with the procurement process: The program will help these participants locate appropriate vehicles, connect with dealers, apply for incentives, train their workforces, and develop standard operating procedures for the new vehicles.

“We’re really excited for this not to be a one-time thing, then we walk away,” Kritzler said. ​“We want to be a resource for folks as they go through their journey.”

So far, 50 organizations — from dry cleaners and lumberyards to universities and municipalities — have signed on to participate, and 20 completed reports have been delivered.

To make sure they are able to make full use of the new funds, the program partners are ramping up their marketing and recruitment efforts, reaching out to community organizations and chambers of commerce, and planning events that allow organizations to see and even drive electric trucks.

“I’ve found when you get someone behind the wheel of a truck, it’s the best tool for converting people to believing that electric vehicles can work for them,” Kritzler said.