Gov. Shapiro signs Rep. Warren's insurance and corporate bills into law
Pennsylvania House Democratic Caucus July 22, 2024 | 4:13 PM
Gov. Shapiro signs Rep. Warren's insurance and corporate bills into law
HARRISBURG, July 22 – In the midst of state budget negotiations, Pennsylvania Gov. Josh Shapiro signed into law two bills introduced by state Rep. Perry Warren.
House Bill 2096, now known as Act 45 of 2024, codifies the surplus insurance lines fee structure for personal surplus lines transactions. House Bill 1716, signed into law as Act 59 of 2024, clarifies shareholder rights set forth in Pennsylvania’s Title 15 Corporations and Unincorporated Associations statute.
Both bills passed unanimously in both the House and the Senate.
“Neither of these new laws is controversial or flashy,” Warren said. “Rather, they both clarify and streamline the conducting of insurance and corporate business in Pennsylvania.”
The surplus lines insurance market serves customers who need rare, specialty or high-risk insurance coverage unavailable on the regular market in Pennsylvania. High-risk flood insurance is one common example. To ensure that Pennsylvania insurance agents serve this specialty market, Act 45 permits and caps the fee that may be charged for placing a surplus lines policy. Act 59 clarifies language of Title 15 with regard to shareholder derivative rights and responsibilities.
Warren serves as vice-chair of the House Insurance Committee and as secretary of the House Commerce Committee, the two committees to which the respective bills were assigned.
“In those roles I have the opportunity to work with experts in insurance and corporate law, both in government and in the private sector, and we worked cooperatively to draft and forward this bipartisan, unanimously passed legislation,” Warren said.
Warren thanked Shapiro for signing the bills after their passage in both chambers of the General Assembly. He also thanked House Insurance Committee Chair Rep. Patty Kim, and Republican Chair Rep. Tina Pickett, who co-sponsored HB 1716; House Commerce Committee Chair Rep. Scott Conklin; Senate Banking and Insurance Committee majority and minority chairs Sen. John DiSanto and Sen. Sharif Street; and Senate Judiciary Committee majority and minority chairs Sen. Tina Baker and Sen. Steve Santarsiero, for their work on and support for the bills.
“The passage of these two laws was a true bipartisan and bicameral effort,” Warren added, “and a strong example of Pennsylvania government working together.”
Warren represents the 31st Legislative District in Bucks County, comprised of Lower Makefield, Newtown Borough, Newtown Township, Upper Makefield and Yardley.
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CONTACT: Ryan Bevitz
House Democratic Communications Office
Phone: 717-787-7895
Email: rbevitz@pahouse.net
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