Texas House Bill HR217

Texas 2015 - 84th Regular

Caption

Recognizing January 27, 2015, as Life and Health Insurance Day at the State Capitol.

Impact

The resolution celebrates the employment provided by the insurance industry, which employed over 247,000 Texans and contributed more than $15.8 billion in payroll in 2013. It underscores the economic impact of insurance in the state, indicating that the industry plays a pivotal role in public finance through significant insurance premium taxes. This acknowledgment may strengthen the legislative support for policies benefiting the insurance sector and encourage further investment in related services.

Summary

HR217 recognizes January 27, 2015, as Life and Health Insurance Day at the State Capitol, emphasizing the significant contributions of the life and health insurance industry to Texas's economy. This resolution acknowledges the efforts of organizations such as the National Association of Insurance and Financial Advisors (NAIFA) and the Texas Association of Life and Health Insurers (TALHI), highlighting their roles in securing financial stability for Texans and supporting community development initiatives.

Sentiment

Overall, the sentiment towards HR217 is positive, reflecting appreciation for the insurance industry's role in Texas's economic landscape. It fosters goodwill between the legislative body and the insurance associations, indicating a cooperative relationship aimed at promoting business initiatives. The resolution acts as recognition and validation of the industry’s contributions, enhancing its perception among both lawmakers and the public.

Contention

While HR217 does not present any controversial elements typical of contentious legislation, the larger conversation around insurance markets in Texas may bring about differing opinions. Some stakeholders could argue that while celebrating the industry, more focus should also be placed on regulatory adjustments and consumer protection, particularly in light of economic disparities. Nevertheless, the resolution itself focuses primarily on recognition without delving into legislative disputes.