LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION May 22, 2009 TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3221 by Hancock (Relating to certain required notifications regarding insurance claims and premiums.), Committee Report 2nd House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code to require an insurer to notify the insured persons before automatic premium payments may be increased. The Texas Department of Insurance indicates that any costs associated with implementing the provisions of this bill could be absorbed within existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: JOB, JRO, KJG, CH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
May 22, 2009
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3221 by Hancock (Relating to certain required notifications regarding insurance claims and premiums.), Committee Report 2nd House, Substituted
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB3221 by Hancock (Relating to certain required notifications regarding insurance claims and premiums.), Committee Report 2nd House, Substituted
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB3221 by Hancock (Relating to certain required notifications regarding insurance claims and premiums.), Committee Report 2nd House, Substituted
HB3221 by Hancock (Relating to certain required notifications regarding insurance claims and premiums.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code to require an insurer to notify the insured persons before automatic premium payments may be increased. The Texas Department of Insurance indicates that any costs associated with implementing the provisions of this bill could be absorbed within existing resources.
The bill would amend the Insurance Code to require an insurer to notify the insured persons before automatic premium payments may be increased. The Texas Department of Insurance indicates that any costs associated with implementing the provisions of this bill could be absorbed within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 454 Department of Insurance
454 Department of Insurance
LBB Staff: JOB, JRO, KJG, CH
JOB, JRO, KJG, CH