85(R) - 2017
Relating to notice to certain lienholders of cancellation of certain personal automobile insurance coverages.
From the LBB: no fiscal implication to the state is anticipated.
HB 849 would amend the Insurance Code to add that an insurer that cancels a personal automobile insurance policy that provides comprehensive or collision physical damage coverage for an automobile that is subject to a purchase money lien must notify the lienholder that the coverage will be cancelled. This would also apply to a cancellation at the request of the insured.
Vote Recommendation Notes
This bill violates our limited government and free market principles by requiring private insurers to notify automobile lienholders of a cancellation of coverage. For this reason we HB 849.