,i #aafth ,,congress #ast ,session ,h4 ,r4 #debc ,,in ,,the ,,house ,,of ,,representatives ,september #bf1 #bjai,mr4 ,green of ,texas 7for himself1 ,mr4 ,lawson of ,florida1 ,mr4 ,panetta1 ,ms4 ,jackson ,lee1 ,mr4 ,meeks1 ,mr4 ,garca of ,illinois1 and ,mr4 ,clay7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to amend the ,liability ,risk ,retention ,act of #aihf to expand the types of commercial insurance authorized for risk retention groups serving nonprofit organizations1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,nonprofit ,property ,protection ,act 4 #b4 ,commercial insurance ,the ,liability ,risk ,retention ,act of #aihf is amended-- 7#a7 in section #b7;a7 7#ae ,u4,s4,c4 #cija7;a77-- 7,a7 in paragraph 7#f71 by striking and at the end2 7,b7 in paragraph 7#g77;,b71 by striking the period at the end and inserting 2 and2 and 7,c7 by adding at the end the following new paragraph3 7#h7 commercial insurance includes all forms of commercial insurance1 except that such term does not include health1 life1 or disability insurance or workers compensation insurance4 2 7#b7 in section #c7;b7 7#ae ,u4,s4,c4 #cijb7;b77-- 7,a7 in paragraph 7#b71 by striking and at the end2 7,b7 in paragraph 7#c71 by striking the period at the end and inserting 2 and2 and 7,c7 by adding at the end the following new paragraph3 7#d7 subject to subsection 7i7 of this section1 the provision of other lines of commercial insurance by a risk retention group to an organization organized and operated exclusively for purposes identified under section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf 7#bf ,u4,s4,c4 #eja7;c77#c771 provided that-- 7,a7 the risk retention group serves nonprofit organizations with tax-exempt status under section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf 7#bf ,u4,s4,c4 #eja7;c77#c772 7,b7 the risk retention group has been chartered or licensed as an insurance company under the laws of a ,state and authorized to engage in the business of insurance under the laws of such ,state2 7,c7 the risk retention group has engaged in the business of insurance pursuant to the charter or license and authority described in subparagraph 7,b7 for a period not less than ten consecutive years2 7,d7 the risk retention group maintains capital and surplus of at least #aj1jjj1jjj1 as calculated in accordance with accounting principles generally accepted in the ,united ,states2 and 7,e7 the total insured value of the risks covered by the initial policy for other forms of commercial insurance provided by a risk retention group to any one member of the risk retention group does not exceed #ej1jjj1jjj1 provided further that-- 7i7 the amount specified in this paragraph shall1 beginning one year after the date of the enactment of the ,nonprofit ,property ,protection ,act and on an annual basis thereafter1 be adjusted by a percentage equal to the estimated percentage increase1 if any1 in the ,consumer ,price ,index1 which adjustment shall be subject to approval by the risk retention group's domicile state regulator2 and 7ii7 for purposes of this paragraph1 any computation of total insured value shall exclude liability insurance coverage provided by a risk retention group to any member as authorized pursuant to this ,act4 2 and 7#c7 in section #c 7#ae ,u4,s4,c4 #cijb71 by adding at the end the following new subsection3 7i7 ,state authority ,to restrict forms of commercial insurance other than liability 7#a7 ,requirements for restriction ,subject to paragraph 7#b71 a risk retention group may not commence offering forms of commercial insurance other than liability in a ,state if the insurance regulatory authority for such ,state makes publicly available on a website of such authority the identities of three or more licensed admitted carriers in such ,state that-- 7,a7 have filed forms1 rates1 and rules for monoline property coverage written on the property portion of a businessowners policy and monoline automobile physical damage coverage2 7,b7 have active in-force policies of monoline property and monoline automobile physical damage coverage issued to nonprofit organizations in such ,state at the time the information required under this paragraph is initially made publicly available2 and 7,c7 the monoline property and monoline automobile physical damage coverages offered by each such carrier are easily accessible in such ,state to nonprofit organizations through the independent broker marketplace4 7#b7 ,treatment of risk retention groups with in-force policies ,any risk retention group having an active1 in-force commercial insurance policy authorized in subsection 7b77#d7 in a ,state at the time that the information required under paragraph 7#a7 for such ,state is initially made publicly available1 shall remain authorized to continue to write commercial insurance pursuant to subsection 7b77#d74 7#c7 ,definition ,for purposes of this subsection1 the term nonprofit organization means an organization with tax-exempt status under section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf 7#bf ,u4,s4,c4 #eja7;c77#c774 4 #c4 ,conforming and clarifying amendments ,the ,liability ,risk ,retention ,act of #aihf is further amended-- 7#a7 in section #b7;a77#d7 7#ae ,u4,s4,c4 #cija7;a77#d77-- 7,a7 in subparagraph 7,c77i71 by striking a liability and inserting an2 and 7,b7 in subparagraph 7,g7-- 7i7 in clause 7i71 by inserting or other commercial after liability each place such term appears2 and 7ii7 in clause 7ii71 by inserting or other commercial after liability2 7#b7 in section #c 7#ae ,u4,s4,c4 #cijb7-- 7,a7 in subsection 7a77#a77;,c71 by inserting or other commercial after liability2 and 7,b7 in subsection 7d77#a77;,b71 by inserting or other commercial after liability2 and 7#c7 in section #f7;b7 7#ae ,u4,s4,c4 #cije7;b771 by inserting or other forms of commercial before insurance by a risk retention group4 #d4 ,amendment to short title ,section #a of the ,liability ,risk ,retention ,act of #aihf 7#ae ,u4,s4,c4 #cija note7 is amended by striking ,liability ,risk ,retention ,act of #aihf and inserting ,risk ,retention ,act of #aihf4