85(R) - 2017
Relating to notification by an insurer of certain disciplinary actions imposed on the insurer for a violation of the insurance laws of another state.
From the LBB: no significant fiscal implication to the state is anticipated.
HB 2665 would amend the Insurance Code to abolish the requirement that insurers notify and deliver any applicable order or judgement to the insurance commissioner of the imposition of a penalty, forfeiture, or sanction on the insurer for a violation of an insurance law in another state.
Vote Recommendation Notes
This bill enhances our limited government principle by eliminating a reporting requirement that has nothing to do with an insurer's business in this state and is duplicative since the insurance commissioner already has access to this data by other means. We support HB 2665.
American Insurance Association
National Association of Mutual Insurance Companies
Property Casualty Insurers Association of America
Texas Association of Business
Texas Coalition for Affordable Insurance Solutions