BILL ANALYSIS S.B. 718 By: Creighton Insurance Committee Report (Unamended) BACKGROUND AND PURPOSE Interested parties contend that certain policyholders would benefit from the ability of insurance adjusters who are not licensed to pay uncontested minor claims in first-party losses. S.B. 718 seeks to provide for this benefit by exempting from statutory provisions regulating insurance adjusters certain employees who adjust first-party small claims under a property and casualty insurance policy. 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 S.B. 718 amends the Insurance Code to include among the persons exempted from the application of statutory provisions relating to regulation of insurance adjusters an individual employed by an insurer or an affiliate of the insurer who adjusts a loss not to exceed $500, or who authorizes a payment on a claim for a loss for which there is a specified coverage limit of $500 or less, arising from a first-party claim under a property and casualty insurance policy. EFFECTIVE DATE September 1, 2017.
BILL ANALYSIS
# BILL ANALYSIS
S.B. 718
By: Creighton
Insurance
Committee Report (Unamended)
S.B. 718
By: Creighton
Insurance
Committee Report (Unamended)
BACKGROUND AND PURPOSE Interested parties contend that certain policyholders would benefit from the ability of insurance adjusters who are not licensed to pay uncontested minor claims in first-party losses. S.B. 718 seeks to provide for this benefit by exempting from statutory provisions regulating insurance adjusters certain employees who adjust first-party small claims under a property and casualty insurance policy.
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 S.B. 718 amends the Insurance Code to include among the persons exempted from the application of statutory provisions relating to regulation of insurance adjusters an individual employed by an insurer or an affiliate of the insurer who adjusts a loss not to exceed $500, or who authorizes a payment on a claim for a loss for which there is a specified coverage limit of $500 or less, arising from a first-party claim under a property and casualty insurance policy.
EFFECTIVE DATE September 1, 2017.
BACKGROUND AND PURPOSE
Interested parties contend that certain policyholders would benefit from the ability of insurance adjusters who are not licensed to pay uncontested minor claims in first-party losses. S.B. 718 seeks to provide for this benefit by exempting from statutory provisions regulating insurance adjusters certain employees who adjust first-party small claims under a property and casualty insurance policy.
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
S.B. 718 amends the Insurance Code to include among the persons exempted from the application of statutory provisions relating to regulation of insurance adjusters an individual employed by an insurer or an affiliate of the insurer who adjusts a loss not to exceed $500, or who authorizes a payment on a claim for a loss for which there is a specified coverage limit of $500 or less, arising from a first-party claim under a property and casualty insurance policy.
EFFECTIVE DATE
September 1, 2017.