LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
FISCAL IMPACT STATEMENT
LS 7272 NOTE PREPARED: Jan 2, 2025
BILL NUMBER: SB 338 BILL AMENDED:
SUBJECT: Department of Insurance Reports.
FIRST AUTHOR: Sen. Qaddoura BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED: GENERAL IMPACT: State
XDEDICATED
FEDERAL
Summary of Legislation: This bill requires the Department of Insurance (DOI), before November 1 of each
year, to submit to the Legislative Council and the Interim Study Committee on Financial Institutions and
Insurance:
(1) a report regarding the total number of homeowner's insurance complaints received by the
Department during the immediately preceding calendar year and any open homeowner's insurance
complaints from the immediately preceding calendar year;
(2) a report regarding homeowner's insurance claims and policies during the immediately preceding
calendar year; and
(3) a report regarding the Indiana FAIR Plan.
The bill also specifies the information to be included in each report.
Effective Date: July 1, 2025.
Explanation of State Expenditures: The bill will increase workload for the DOI to prepare and submit the
required reports, but should be implemented with existing staff and resources. [The DOI is funded through
a dedicated agency fund.]
Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected: Department of Insurance.
Local Agencies Affected:
Information Sources:
SB 338 1 Fiscal Analyst: Jason Barrett, 317-232-9809.
SB 338 2