| TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | HB2086 by McClendon (Relating to the limitations period for bringing an action arising from certain insurance claims.), As Introduced |
The bill would amend the Insurance Code relating to the limitations period for bringing an action arising from certain insurance claims. The bill would require a person to bring action arising from an issue regarding the payment of a claim not later than four years after the date of the denial of the claim or the act or omission giving rise to the cause of action. The bill would apply only to a cause of action that accrues on or after September 1, 2013, and a cause of action that accrues before September 1, 2013 would be governed by current law.
Based on information provided by the Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing staff and resources.
| Source Agencies: | 454 Department of Insurance
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| LBB Staff: | UP, AG, ER, LXH
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