Lawmaker Proposes Returning Premium Surplus Raided in 2017

A lawmaker who unsuccessfully fought legislative efforts to saddle Montana State Fund with part of the bill for an expensive wildfire season is proposing that the state return what it took from the carrier’s policyholder surplus, with interest. Sen. Greg Hertz, R-Polson, introduced SB 126, which would transfer $33.58 million from the state’s general fund to Montana State Fund. The bill would declare that the transfer “represents the amount of the wrongful taking of State Fund monies and lost investment earnings” under laws enacted in 2017. Montana suffered from large ...