Bill: HB 2491, 85(R) - 2017
Committee
House Insurance
Companion Bill
SB 1070
Vote Recommendation
Vote Recommendation |
Economic Freedom |
Property Rights |
Personal Responsibility |
Limited Government |
Individual Liberty |
Neutral |
Neutral |
Neutral |
Neutral |
Neutral |
Neutral |
Author(s)
John Frullo
Bill Caption
Relating to authorized reinsurance and financial statement credit and accounting for reinsurance.
Fiscal Notes
From the LBB: no significant fiscal implication to the state is anticipated.
Bill Analysis
HB 2491 would amend the Insurance Code to allow an insurer to provide reinsurance on any line of insurance. Next, credit would be allowed when reinsurance is ceded to an assuming insurer that meets a series of eight regulations. Associations may become certified reinsurers as well if they meet four requirements. Finally, the Commissioner of Insurance would be required to assign ratings to each certified reinsurer.
Vote Recommendation Notes
This legislation is procedural or administrative in nature with no bearing on our liberty principles, therefore we remain neutral.
Organizations Supporting
American Insurance Association
National Association of Mutual Insurance Companies
Texas Association of Business
Texas Association of Health Plans
Texas Association of Life and Health Insurers
USAA