BILL ANALYSIS H.B. 1187 By: Capriglione Insurance Committee Report (Unamended) BACKGROUND AND PURPOSE Interested parties contend that clarification is needed regarding a captive insurance company's authority to provide reinsurance. H.B. 1187 seeks to address this issue by including credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance. CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS H.B. 1187 amends the Insurance Code to include credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance. EFFECTIVE DATE September 1, 2017.
BILL ANALYSIS
# BILL ANALYSIS
H.B. 1187
By: Capriglione
Insurance
Committee Report (Unamended)
H.B. 1187
By: Capriglione
Insurance
Committee Report (Unamended)
BACKGROUND AND PURPOSE Interested parties contend that clarification is needed regarding a captive insurance company's authority to provide reinsurance. H.B. 1187 seeks to address this issue by including credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance.
CRIMINAL JUSTICE IMPACT It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS H.B. 1187 amends the Insurance Code to include credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance.
EFFECTIVE DATE September 1, 2017.
BACKGROUND AND PURPOSE
Interested parties contend that clarification is needed regarding a captive insurance company's authority to provide reinsurance. H.B. 1187 seeks to address this issue by including credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance.
CRIMINAL JUSTICE IMPACT
It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
H.B. 1187 amends the Insurance Code to include credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance.
EFFECTIVE DATE
September 1, 2017.