LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 13, 2013 TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB839 by Hancock (Relating to the provision of insurance coverage for certain portable electronic devices.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Insurance Code relating to the provision of insurance coverage for certain portable electronic devices. The bill would allow an insurer to terminate or change the terms and conditions of an insurance policy for portable electronics after notice is given to the master or group policyholder and each enrolled customer. The bill would require notice to occur no later than 30 days before the date of the termination or change. Based on information provided by the Texas Department of Insurance, it is assumed that all 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, ER, LXH, MW
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 13, 2013
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB839 by Hancock (Relating to the provision of insurance coverage for certain portable electronic devices.), Committee Report 1st House, Substituted
TO: Honorable John Carona, Chair, Senate Committee On Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB839 by Hancock (Relating to the provision of insurance coverage for certain portable electronic devices.), 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
SB839 by Hancock (Relating to the provision of insurance coverage for certain portable electronic devices.), Committee Report 1st House, Substituted
SB839 by Hancock (Relating to the provision of insurance coverage for certain portable electronic devices.), 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 the provision of insurance coverage for certain portable electronic devices. The bill would allow an insurer to terminate or change the terms and conditions of an insurance policy for portable electronics after notice is given to the master or group policyholder and each enrolled customer. The bill would require notice to occur no later than 30 days before the date of the termination or change. Based on information provided by the Texas Department of Insurance, it is assumed that all duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would amend the Insurance Code relating to the provision of insurance coverage for certain portable electronic devices. The bill would allow an insurer to terminate or change the terms and conditions of an insurance policy for portable electronics after notice is given to the master or group policyholder and each enrolled customer. The bill would require notice to occur no later than 30 days before the date of the termination or change.
Based on information provided by the Texas Department of Insurance, it is assumed that all 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, ER, LXH, MW
UP, RB, ER, LXH, MW