establishing a commission to study the impacts of reinsurance on the cost and availability of property insurance in New Hampshire.

HB 1056 establishes a commission to study how reinsurance (insurance that insurers buy to cover large losses) affects property insurance costs and availability in New Hampshire. The commission, composed of 4 House members, 2 Senate members, the Insurance Commissioner, and two industry representatives (one from large insurers, one from small local carriers), will examine how extreme weather events influence reinsurance rates and translate to higher premiums for homeowners and businesses. It will also assess risks to small insurers and the state if reinsurers become insolvent or stop providing coverage. The commission must report its findings and recommendations to the legislature within a set timeframe.