TO: | Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | SB685 by Lucio (Relating to authorizing the commissioner of insurance to further regulate the financial security and operations of certain insurance companies through local districts or chapters.), As Introduced |
The bill would amend the Insurance Code to increase regulation of the financial security and operations of certain insurance companies. The bill would require the Department of Insurance (TDI) to adopt rules to provide a transition period for insurance companies to comply with the requirements of the bill. Based on analysis provided by TDI, any costs associated with implementing the provisions of the bill could be absorbed within existing agency resources.
Source Agencies: | 454 Department of Insurance
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LBB Staff: | JOB, JRO, CH
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