Repeals the authority of the commissioner of insurance to retain funds collected from certain fees
Impact
If enacted, HB 82 would directly affect the statutes surrounding the fees charged for duplicate licenses, thus making it easier for insurance producers to acquire additional copies without financial penalty. The repeal of these fees could enhance overall compliance with licensing requirements and encourage insurance producers to maintain proper licensing as mandated by state law. This move may also reflect a broader initiative to streamline operations within the insurance sector and address the needs of practitioners in the field.
Summary
House Bill 82 aims to repeal the authority of the commissioner of insurance in Louisiana to retain fees collected from the issuance of duplicate insurance producer license cards. The bill primarily addresses financial aspects associated with duplicating these licenses, simplifying the process for insurance producers who need additional copies of their licenses. By removing the fees, the bill seeks to alleviate financial burdens on professionals within the insurance industry, ensuring easier access to necessary operational documentation.
Sentiment
The sentiment surrounding HB 82 appears to be positive, especially amongst insurance industry stakeholders who support the elimination of unnecessary fees. Advocates for the bill highlight its potential to support professional standards by ensuring that insurance producers can easily obtain necessary documentation without incurring costs. However, there may be some concerns regarding the financial sustainability of funding for the commissioner's operations in the absence of these fees, though specific opposition to the bill does not seem widely documented.
Contention
While there may not be significant contention surrounding HB 82, the implications of repealing such fees can spur discussions about funding mechanisms for the insurance commissioner's office. Eliminating source revenue by repealing fees may warrant a review of how the operational budget is managed and if alternative funding avenues must be explored. Overall, the bill presents a straightforward revision to existing law with a focused intent on enhancing the licensing process for insurance producers.
Provides for collection of certain fees by the commissioner of insurance from property and casualty insurers. (7/1/20) (EG SEE FISC NOTE SG RV See Note)