LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 23, 2013 TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB837 by Eiland (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers. The bill applies only to a reinsurance contract that is entered into 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 could 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, MW, ER, RB, LXH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 23, 2013
TO: Honorable John T. Smithee, Chair, House Committee on Insurance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB837 by Eiland (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), Committee Report 1st House, Substituted
TO: Honorable John T. Smithee, Chair, House Committee on Insurance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB837 by Eiland (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), Committee Report 1st House, Substituted
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
HB837 by Eiland (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), Committee Report 1st House, Substituted
HB837 by Eiland (Relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers.), Committee Report 1st 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 relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers. The bill applies only to a reinsurance contract that is entered into 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 could be absorbed within existing staff and resources.
The bill would amend the Insurance Code relating to credit to certain ceding insurers for reinsurance ceded to certain certified assuming insurers. The bill applies only to a reinsurance contract that is entered into 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 could 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, MW, ER, RB, LXH
UP, AG, MW, ER, RB, LXH