Honorable Tom Oliverson, Chair, House Committee on Insurance
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB429 by King, Ken (Relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to the coverage of damage from tornadoes and wildfires by the Texas Windstorm Insurance Association (TWIA). Based on information provided by the Texas Department of Insurance (TDI), the bill may impact TDI if additional resources are required for the TDI ombudsman program with TWIA; however, this impact is not anticipated to be significant.
Local Government Impact
No fiscal implication to units of local government is anticipated.