General Laws of Massachusetts - Chapter 175G The Pollution Liability Reinsurance Corporation

• Massachusetts General Laws - Definitions - Chapter 175G, Section 1
  As used in this chapter, the following words, unless the context otherwise requires, shall have the following meanings:— “Cede”, to contractually transfer, pursuant to the...
• Massachusetts General Laws - Pollution Liability Reinsurance Corporation; creation; board of directors; board duties; reports and audits - Chapter 175G, Section 2
  For the purpose of assuming or ceding reinsurance of pollution liability insurance policies subject to the provisions of this chapter, there is hereby created a...
• Massachusetts General Laws - Powers of corporation - Chapter 175G, Section 3
  The Corporation shall have the following powers to: establish and amend a plan of operation subject to the approval of the commissioner; make, amend, and...
• Massachusetts General Laws - Proposed plan of operation for internal structure and management, and corporate procedures; contents; approval or disapproval - Chapter 175G, Section 4
  The Corporation shall submit to the commissioner of insurance for his approval a plan of operation addressing both the internal structure and management of the...
• Massachusetts General Laws - Percentage surcharge for supplemental special account, establishment and collection; maximum accumulated amount; surplus - Chapter 175G, Section 5
  Subject to the plan of operation, the Corporation shall establish and collect a percentage surcharge of up to five per cent on ordinary reinsurance charges...
• Massachusetts General Laws - Annual review of claim experience; report of fund deficiencies and loan request; certification or denial; independent consultant - Chapter 175G, Section 6
  By July first of each year, the Corporation shall conduct a review of its claim experience for each reporting year. In the event that for...
• Massachusetts General Laws - Rules and regulations; commissioner’s orders; review - Chapter 175G, Section 7
  The commissioner may make, and at any time, alter or amend, reasonable rules and regulations to facilitate the operation of this chapter. The commissioner may...

Last modified: September 11, 2015