N.H. Senate Votes Not to Change Oversight of Public Risk Pools

June 8, 2015

The New Hampshire Secretary of State’s office will not immediately lose its oversight of public risk pools as initially proposed in the state Senate’s budget.

Senators voted to study the issue rather than transfer oversight to the Insurance Department. That change would’ve removed the Secretary of State’s authority to regulate HealthTrust and Property-Liability Trust, two public risk pools that used to form the Local Government Center. The Secretary of State’s office began a regulatory battle with the center several years ago over mishandled money. The issue is ongoing.

A committee is set up to study what agency should regulate public risk pools. It will report its findings by this November.

Democratic senators said there is no need to study the issue further and wanted the oversight change to be deleted from the budget.

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