LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 16, 2013 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1731 by McClendon (Relating to a mile-based rating plan for personal automobile insurance.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to a mile-based rating plan for personal automobile insurance. The bill would define a mile-based automobile insurance as a personal automobile insurance that is rated using a rating plan for which a unit of exposure is one mile driven by the insured, and authorize insurers to provide mile-based automobile insurance. The bill would require the insurance commissioner to collect certain information related to mile-based policies and adopt rules as necessary to govern the use of the policies. The would apply to a personal automobile insurance policy that is delivered, issued for delivery, or renewed on or after January 1, 2014. Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: UP, AG, ER, LXH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 16, 2013
TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1731 by McClendon (Relating to a mile-based rating plan for personal automobile insurance.), As Introduced
TO: Honorable John T. Smithee, Chair, House Committee on Insurance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1731 by McClendon (Relating to a mile-based rating plan for personal automobile insurance.), As Introduced
Honorable John T. Smithee, Chair, House Committee on Insurance
Honorable John T. Smithee, Chair, House Committee on Insurance
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB1731 by McClendon (Relating to a mile-based rating plan for personal automobile insurance.), As Introduced
HB1731 by McClendon (Relating to a mile-based rating plan for personal automobile insurance.), As Introduced
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 relating to a mile-based rating plan for personal automobile insurance. The bill would define a mile-based automobile insurance as a personal automobile insurance that is rated using a rating plan for which a unit of exposure is one mile driven by the insured, and authorize insurers to provide mile-based automobile insurance. The bill would require the insurance commissioner to collect certain information related to mile-based policies and adopt rules as necessary to govern the use of the policies. The would apply to a personal automobile insurance policy that is delivered, issued for delivery, or renewed on or after January 1, 2014. Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and resources.
The bill would amend the Insurance Code relating to a mile-based rating plan for personal automobile insurance. The bill would define a mile-based automobile insurance as a personal automobile insurance that is rated using a rating plan for which a unit of exposure is one mile driven by the insured, and authorize insurers to provide mile-based automobile insurance. The bill would require the insurance commissioner to collect certain information related to mile-based policies and adopt rules as necessary to govern the use of the policies. The would apply to a personal automobile insurance policy that is delivered, issued for delivery, or renewed on or after January 1, 2014.
Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and 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: UP, AG, ER, LXH
UP, AG, ER, LXH