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Relating to arbitration related to certain risks under certain insurance policies and contracts.
No significant fiscal implication to the State is anticipated.
HB 1648 would require that arbitration agreements for certain insurance contracts related to risks entirely in the state of Texas must stipulate that arbitration must be conducted in the state of Texas and be interpreted in accordance with the laws of Texas.
HB 1648 does not appear to affect our liberty principles and we remain neutral.