Relating to the continuation and operation of the Texas Department of Insurance and the operation of certain insurance programs; imposing administrative penalties.
Impact
The bill updates the duties and responsibilities of the Texas Department of Insurance, ensuring that they have the authority to monitor and regulate the insurance marketplace effectively. By imposing mandatory reporting requirements and establishing procedures for disputed rate filings, SB644 is positioned to improve oversight and accountability among insurers operating in the state. This creates a more transparent environment for both regulators and consumers, allowing for better informed choices in the insurance market.
Summary
SB644 aims to continue the operations of the Texas Department of Insurance and amend various provisions of the Insurance Code. Among the key provisions, it intends to enhance the regulatory framework governing insurance entities by implementing stricter rate filing processes. The bill places an emphasis on ensuring the fair treatment of consumers while fostering competition within the insurance market. It sets forth a clear mandate for the Commissioner of Insurance to adopt rules concerning the regulation of the insurance industry and the associated administrative actions required for compliance.
Contention
Some notable points of contention brought up during discussions surrounding SB644 include concerns over the potential impact of increased regulatory burdens on insurance providers, particularly smaller enterprises that might struggle with compliance costs. Critics argue that while consumer protection is paramount, there must also be a careful balance to avoid stifling competition and innovation in the insurance sector. As various stakeholders express their viewpoints, the ongoing dialogue highlights the complexity of managing regulation that both protects citizens and encourages business growth.
Identical
Relating to the continuation and operation of the Texas Department of Insurance and the operation of certain insurance programs; imposing administrative penalties.
Relating to the establishment of the Texas Energy Insurance Program and other funding mechanisms to support the construction and operation of electric generating facilities.
Relating to the continuation and functions of the Texas Juvenile Justice Department and the functions of the office of independent ombudsman for the Texas Juvenile Justice Department.
Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment; authorizing a surcharge.
Relating to funding of excess losses and operating expenses of the Texas Windstorm Insurance Association; authorizing an assessment, a surcharge, and an infrastructure grant.
Relating to the continuation and functions of the Texas Juvenile Justice Department, the functions of the office of independent ombudsman for the Texas Juvenile Justice Department, and the powers and duties of the office of inspector general of the Texas Juvenile Justice Department.
Relating to the continuation and operation of the Texas Department of Insurance and the operation of certain insurance programs; imposing administrative penalties.
Relating to the continuation and operation of the Texas Department of Insurance and the operation of certain insurance programs; imposing administrative penalties.
Relating to the continuation and operation of the Texas Department of Insurance and the operation of certain insurance programs; imposing administrative penalties.
Relating to improvements to access to health care in this state, including increased access to and scope of coverage under health benefit plans and Medicaid, and to improvements in health outcomes; authorizing an assessment; imposing penalties.
In general provisions relating to emergency management services, further providing for definitions; in Commonwealth services, further providing for assistance to fire companies and EMS companies, for State Fire Commissioner and for curriculum, training and education certification management system; in grants to fire companies and emergency medical services companies, further providing for definitions, for publication and notice, for award of grants, for consolidation incentive, for establishment, for publication and notice and for award of grants, repealing provisions relating to COVID-19 Crisis Fire Company and Emergency Medical Services Grant Program and to COVID-19 Crisis Fire Company and Emergency Medical Services Grant Program, further providing for allocation of appropriated funds, repealing provisions relating to Emergency Medical Services COVID-19 Recovery Grant Program, to expiration of authority relating to COVID-19 Crisis Fire Company and Emergency Medical Services Grant Program and to expiration of authority relating to Emergency Medical Services COVID-19 Recovery Grant Program and further providing for special provisions and for annual reports; and making transfers.