(a) The Insurance Commissioner is authorized to promulgate such rules and regulations as are necessary or desirable to implement this act.

(b) The Insurance Commissioner may establish an advisory board of public and private representatives, which shall consist of the commissioner as chairman and two lay people, two members of the insurance industry, two municipal or city officials and two members of the General Assembly, one of which is appointed by the Speaker of the House of Representatives and one of which is appointed by the President pro tempore of the Senate, to assist him in administering this act and in studying and implementing any other measures to prevent arson.

(c) Each member of the advisory board shall receive $40 per diem for each day actually engaged in attendance at meetings of the board. The members shall also receive the amount of actual travelling, hotel and other necessary expenses incurred in the performance of their duties.

(d) The advisory board established by subsection (b) shall expire and its authority shall cease five years from the effective date of this act unless its provisions are specifically reenacted by the general assembly.