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BILL ANALYSIS

 

 

 

H.B. 1187

By: Capriglione

Insurance

Committee Report (Unamended)

 

 

 

BACKGROUND AND PURPOSE

 

Interested parties contend that clarification is needed regarding a captive insurance company's authority to provide reinsurance. H.B. 1187 seeks to address this issue by including credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance.

 

CRIMINAL JUSTICE IMPACT

 

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

 

RULEMAKING AUTHORITY

 

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

 

ANALYSIS

 

H.B. 1187 amends the Insurance Code to include credit life insurance and credit disability insurance offered as a part of, or directly relating to, the operational risks of a captive insurance company's affiliate among the types of insurance for which a captive insurance company may provide reinsurance.

 

EFFECTIVE DATE

 

September 1, 2017.