TO: | Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB2752 by Eiland (Relating to independent audits of insurer financial statements and insurer internal controls.), As Engrossed |
The bill would amend the Insurance Code to revise the audit requirements for audited financial reports from insurers and to change the professional requirements of the auditor preparing the report. The bill would not require health maintenance organizations to submit an audited financial report to the Texas Department of Insurance (TDI). The bill would require TDI to revise the exemption process for receiving audited financial reports from insurers. Based on the analysis by TDI, it is assumed any costs associated with implementing this bill could be absorbed within current agency resources.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JOB, JRO, KJG, MW, CH
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