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New Bill Requires Large Organizations to Register for Insurance Fund

4/4/2025

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Summary

Story summary

A new AM Best report reveals a bill that classifies qualified organizations, like farm bureaus, as those boasting over 100,000 dues-paying members and $500 million in assets. To comply, these organizations must register with the state and pay a $250 fee for five years, with the revenue funneled into a dedicated insurance fund.

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Story summary

A new AM Best report reveals a bill that classifies qualified organizations, like farm bureaus, as those boasting over 100,000 dues-paying members and $500 million in assets. To comply, these organizations must register with the state and pay a $250 fee for five years, with the revenue funneled into a dedicated insurance fund.