Texas Senate Bill SB183

Texas 2013 - 83rd Regular

Caption

Relating to certain inquiries made by the Texas Department of Insurance to insurers.

Impact

The bill has implications for regulatory practices within the insurance industry in Texas. By formalizing the response deadlines, SB183 seeks to reduce delays in communication and ensure that the department can obtain necessary information in a timely manner. This could lead to quicker investigations and resolution of issues related to compliance and consumer protection. As a result, the legislation may improve operational efficiency within the Texas Department of Insurance and promote accountability amongst insurers.

Summary

SB183 aims to amend the Insurance Code in Texas by establishing a structured response timeline for insurers receiving inquiries from the Texas Department of Insurance. Specifically, it stipulates that insurers must respond to inquiries in writing within 15 days of receipt. If more time is needed, insurers may request a 10-day extension, which the department must grant. This creates a clear expectation for timely communication between insurers and regulatory authorities, enhancing the overall efficiency of the inquiry process.

Contention

While the bill primarily serves to clarify the process of how inquiries are managed, some stakeholders may view the imposed deadlines as a potential burden on insurers, particularly smaller firms that may find it challenging to meet tighter reporting timelines. Without significant contention reported in the discussions surrounding SB183, the focus appears to be primarily on enhancing regulatory frameworks rather than on major points of opposition or concern.