| TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | HB2350 by Hunter (Relating to certain property insurance coverage available through the Texas Windstorm Insurance Association and other entities, the operation of those entities, and activities to pay and reduce losses under that coverage.), As Introduced |
The bill would amend the Insurance Code relating to certain property insurance coverage available through the Texas Windstorm Insurance Association (TWIA) and other entities, the operation of those entities and activities to pay and reduce losses under that coverage. The bill would require that TWIA adopt separate and distinct policies for legal counsel in disputes involving policyholder claims. The policies must ensure that TWIA and the policyholders are fairly treated in litigation. The bill would allow TWIA to establish a web-based system for accepting applications for initial insurance coverage and premium payments. The bill would allow a municipality or county to establish a program that requires any structure in the municipality or county to be inspected to ensure that the structure meets certain minimum standards. The bill would allow the Texas Department of Insurance (TDI) to contract with a municipality or county that adopts an inspection program to perform the required inspections.
Based on information provided by TDI, it is assumed that all duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing staff and resources.
| Source Agencies: | 454 Department of Insurance
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| LBB Staff: | UP, AG, ER, KKR
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