Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB1368 by Hancock (Relating to the nonrenewal of, the assessment of premium surcharges against, and a study concerning loss ratios with respect to certain insurance policies.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to the nonrenewal of, the assessment of premium surcharges against, and a study concerning loss ratios with respect to certain insurance policies. Based on the analysis by the Texas Department of Insurance, it is assumed that all duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.