LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 8, 2013 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2785 by Smithee (Relating to an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association (TWIA). The bill would require TWIA to include a policyholders' bill of rights in each windstorm and hail insurance policy they issue. The bill would apply to an 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 8, 2013
TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2785 by Smithee (Relating to an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association.), As Introduced
TO: Honorable John T. Smithee, Chair, House Committee on Insurance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2785 by Smithee (Relating to an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association.), 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
HB2785 by Smithee (Relating to an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association.), As Introduced
HB2785 by Smithee (Relating to an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association.), 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 an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association (TWIA). The bill would require TWIA to include a policyholders' bill of rights in each windstorm and hail insurance policy they issue. The bill would apply to an 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 an insurance policyholders' bill of rights in connection with policies issued by the Texas Windstorm Insurance Association (TWIA). The bill would require TWIA to include a policyholders' bill of rights in each windstorm and hail insurance policy they issue. The bill would apply to an 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