LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION February 26, 2013 TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB411 by Carona (Relating to insurers' duty to provide information in a fraud investigation.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to an insurers' duty to provide information in a fraud investigation. The bill would require an insurer to respond to a Texas Department of Insurance (TDI) request for information related to a matter under investigation within 15 days of when the request is received unless a written request is submitted by the insurer, at which time TDI shall extend the response period by an additional 10 days. Based on information provided by TDI, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:454 Department of Insurance LBB Staff: UP, RB, MW, ER
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
February 26, 2013
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB411 by Carona (Relating to insurers' duty to provide information in a fraud investigation.), Committee Report 1st House, Substituted
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB411 by Carona (Relating to insurers' duty to provide information in a fraud investigation.), Committee Report 1st House, Substituted
Honorable John Carona, Chair, Senate Committee On Business & Commerce
Honorable John Carona, Chair, Senate Committee On Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB411 by Carona (Relating to insurers' duty to provide information in a fraud investigation.), Committee Report 1st House, Substituted
SB411 by Carona (Relating to insurers' duty to provide information in a fraud investigation.), 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 an insurers' duty to provide information in a fraud investigation. The bill would require an insurer to respond to a Texas Department of Insurance (TDI) request for information related to a matter under investigation within 15 days of when the request is received unless a written request is submitted by the insurer, at which time TDI shall extend the response period by an additional 10 days. Based on information provided by TDI, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing 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: UP, RB, MW, ER
UP, RB, MW, ER