Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB1602 by Taylor (Relating to cancellation of certain property and casualty insurance policies for the insured's failure to cooperate in a claim investigation, settlement, or defense.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to cancellation of certain property and casualty insurance policies for the insured's failure to cooperate in a claim investigation, settlement, or defense. Based on information provided by the Texas Department of Insurance, this analysis assumes that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.