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No significant fiscal implication to the State is anticipated.
HB 1132 would amend Section 2301.004 (Exemption for Large Risks) of the Insurance Code. This legislation would change the requirements for policy forms that are exempt from Section 2301.006 (Filing and Approval of Forms), certain provisions of 2301.007 (Disapproval of Forms; Withdrawal of Approval); and 2301.008 (Adoption and Use of Standard Forms). Under HB 1132, an insurance form would be exempt from the sections in the aforementioned if one of the following occurs as described by the bill author's analysis on TLO:
HB 1132 would not add new regulations but rather simply change the threshold for the exemptions already authorized under the law. As such we are neutral on this legislation which neither affirms nor offends our liberty principles.