MS HB451

Removes the July 1, 2022 expiration date for the nonadmitted policy fee (3% of total policy premium) collected by surplus lines insurance producers on policies from nonadmitted insurers

Creates the Mississippi First Responders Health and Safety Trust Fund, which will receive $500,000 annually from nonadmitted policy fees to help state, municipalities, counties, and fire protection districts provide benefits under the Mississippi First Responders Health and Safety Act

Creates the Annual Fire Fund to receive $3,500,000 annually from nonadmitted policy fees, with the Commissioner of Insurance required to transfer at least $1,500,000 annually to Rural and Supplementary Rural Fire Truck Funds

After the association receives 60% of collected fees and required diversions are made, remaining funds are split 50/50 between the association and the Annual Fire Fund

If the Mississippi Windstorm Underwriting Association's Total Admitted Assets fall below $250,000,000, all diverted funds must immediately go to the association instead of the trust funds