TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB1246 by Taylor (Relating to certain refund requirements regarding credit insurance.), As Introduced |
The bill would amend the Insurance Code to require each credit life or credit accident and health insurance policy evidenced by an individual policy or group certificate of insurance that is issued or renewed on or after January 1, 2008 to include a written notice regarding certain refund requirements.
Based on the analysis of the Texas Department of Insurance, it is assumed that costs resulting from duties and responsibilities associated with implementing the provisions of the bill could be absorbed within current resources.
The bill would take effect September 1, 2007.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JOB, JRO, MW, SK
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