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Senate Bill 1229 |
Senate Author: Eltife |
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Effective: 5-28-11 |
House Sponsor: Eiland |
Senate Bill 1229 amends the Insurance Code to include among the information required to be provided to the Texas Department of Insurance's chief examiner by a person with whom another state contracts to perform any respective market analysis or examination initiated by the other state of an insurer domiciled in Texas or of a licensed managing general agent an estimate of the examination costs to be charged to the insurer or agent to be examined, a copy of any contract between the person and the state regulatory body that initiated the examination and a letter authorizing the examination, and a list of the previous examinations conducted on the same insurer on behalf of any state within the last three years. The bill requires the department, on accepting a person's registration, to send written confirmation of the acceptance to the person, the insurer or agent to be examined, and the state regulatory body that initiated the examination.