TO: | Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB392 by Seaman (Relating to the licensing of public insurance adjusters; providing administrative and criminal penalties.), As Engrossed |
The bill would create a new license for Public Adjusters, establishing an examination requirement for the license and creating an advisory board at the Department of Insurance. The agency indicates it can absorb any costs associated with the bill within current resources.
The bill would generate an additional $62,500 each year in fees. Any revenue gain from additional fees would be offset by a corresponding loss to the Insurance Maintenance Tax.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JK, JRO, RT, RB
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