LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 11, 2013 TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB698 by Carona (Relating to the refund of unearned premium for a personal automobile or residential property insurance policy.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to the refund of unearned premium for a personal automobile or residential property insurance policy. The bill would require insurers to refund any unearned premium to the policyholder after the termination of a policy of personal automobile or residential property insurance. 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, RB, MW, ER, LXH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 11, 2013
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB698 by Carona (Relating to the refund of unearned premium for a personal automobile or residential property insurance policy.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB698 by Carona (Relating to the refund of unearned premium for a personal automobile or residential property insurance policy.), As Introduced
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
SB698 by Carona (Relating to the refund of unearned premium for a personal automobile or residential property insurance policy.), As Introduced
SB698 by Carona (Relating to the refund of unearned premium for a personal automobile or residential property insurance policy.), 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 the refund of unearned premium for a personal automobile or residential property insurance policy. The bill would require insurers to refund any unearned premium to the policyholder after the termination of a policy of personal automobile or residential property insurance. 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 the refund of unearned premium for a personal automobile or residential property insurance policy. The bill would require insurers to refund any unearned premium to the policyholder after the termination of a policy of personal automobile or residential property insurance.
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, RB, MW, ER, LXH
UP, RB, MW, ER, LXH