Interim study on Montana home and cyber-security insurance

2025 Regular Session

Proposes an interim study to assess Montana’s home and cyber-security insurance markets, report findings, and inform future policy recommendations.

(LC) Draft Died in Process

#insurance #legislature #interimstudies

Overview

LC 3623 is a Draft bill introduced in the Montana Legislature on December 14, 2024. The bill is an interim-study measure focused on Montana home and cyber-security insurance. As of May 2025, the draft status is “Died in Process,” with prior statuses indicating the draft was placed on hold and subsequently taken off hold before dying.

Purpose and Intent

The primary goal is to authorize or direct an interim study by a legislative committee to examine Montana’s home insurance and cyber-security insurance markets.

The study is intended to assess current conditions, identify gaps or risks, and consider potential recommendations for public policy, consumer protections, and market stability related to home and cyber insurance.

Key Provisions (Based on the Title and Status)

Direction to perform an interim study (i.e., a non-enactive analysis conducted between sessions).

Scope likely to include: availability and affordability of home insurance, coverage adequacy, policy terms, premium trends, and consumer protections; and the cyber-insurance market, including coverage options, pricing, and risk management considerations.

Potential requirements for data collection from insurers, feedback from consumers, and public hearings or stakeholder input.

A mandate to develop a final report with findings and recommendations for the Legislature.

As a study bill, it would not by itself create new state mandates or substantive regulatory changes, but could inform future legislative actions.

Note: Specific statutory language, such as the precise scope, reporting deadlines, and funding or staff allocations, is not provided in the available summary. The above reflects typical provisions for an interim study bill.

What Would Be Affected

Homeowners and renters who rely on homeowners or dwelling insurer coverage.

Businesses and individuals seeking cyber-security insurance (cyber liability, data breach, etc.).

Insurance industry participants, including insurers, agents, and brokers operating in Montana.

State regulators and the Legislature, which would oversee the study and review the resulting recommendations.

Procedural and Timeline Aspects

Introduced: December 14, 2024.

Draft status changes: on hold (Dec 14, 2024); taken off hold (Mar 31, 2025); on hold again (Apr 28, 2025).

Final status: Died in Process as of May 23, 2025.

Interim studies typically run between legislative sessions; the bill would have produced a report outlining findings and potential policy options for consideration in a future session.

Significance

This bill represents an exploratory step by the Legislature to understand and potentially shape Montana’s approach to home and cyber-security insurance.

While not law in itself, a successful interim study could lead to subsequent legislation or regulatory proposals addressing coverage availability, consumer protections, or cyber risk management in Montana.

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