MS HB1159

Amends sections 19-7-7, 21-37-45, and 37-7-303 of Mississippi Code to authorize counties, municipalities, school districts, community/junior colleges, and other political subdivisions to pool their risks for property insurance purchases.

Allows participating entities to establish self-insurance funds or reserves, purchase property insurance policies, or use any combination thereof, with costs paid from available funds.

Requires self-insurance programs to contract administration and services to a third party approved by the Commissioner of Insurance.

Effective July 1, 2024.