Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB2655 by Sheets (Relating to notice of coverage reduction on renewal of a property/casualty insurance policy.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to notice of coverage reduction on renewal of a property/casualty insurance policy. Based on the analysis provided 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 agency resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.