Honorable John T. Smithee, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB736 by Watson (Relating to insurance rating and underwriting practices and declinations based on certain consumer inquiries.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to insurance rating and underwriting practices and declinations based on certain consumer inquiries. The bill would prohibit insurers from using an underwriting guideline, charging a rate, canceling a policy, or refusing to renew a policy based upon a consumer inquiry that has been made by or on behalf of the applicant or insured. 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.
Local Government Impact
No fiscal implication to units of local government is anticipated.