Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB1902 by Bonnen, Greg (Relating to maximum liability limits for windstorm and hail insurance coverage provided through the Texas Windstorm Insurance Association.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to maximum liability limits for windstorm and hail insurance coverage provided through the Texas Windstorm Insurance Association. Based on information provided by the Texas Department of Insurance, this analysis assumes the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The provisions of the bill would only apply to a proposed maximum liability limit filed on or after January 1, 2020.
Local Government Impact
No fiscal implication to units of local government is anticipated.