Texas Senate Bill SB770

Texas 2017 - 85th Regular

Caption

Relating to a specialty certification for insurance agents who have completed certain training regarding self-insured health benefit plans.

Impact

The introduction of this specialty certification program will likely elevate the professional standards within the insurance industry, allowing agents to better understand and manage self-insured health benefit schemes. This could lead to enhanced consumer protection as insurance agents become more knowledgeable about the nuances of self-insurance. The bill provides a structured approach to certification, requiring ongoing education to maintain the certification, which is intended to keep agents current on relevant laws and practices.

Summary

Senate Bill 770 seeks to establish a voluntary specialty certification program for insurance agents with a focus on self-insured health benefit plans. Under this legislation, individuals who complete specific training regarding such plans will be able to obtain a specialty certification, contingent upon holding a general life, accident, and health license, along with evidence of completed training. This program is designed to enhance the expertise of insurance agents in managing self-insured health plans, ultimately improving services provided to policyholders.

Contention

While many stakeholders believe the bill will benefit both agents and consumers, there may be concerns regarding the accessibility and cost of the required training and examinations. Additionally, some may argue that the establishment of a specialty certification could create barriers for insurance agents who may provide effective services without such certification. The Texas Department of Insurance is tasked with developing the certification program and its rules, which could be a point of contention depending on how those guidelines are structured.