Fiscal Note - SB 0209 - Credit History May Not Be Used By Insurers To Deny An Insurance Policy
L.R. NO. 0973-01
BILL NO. SB 209
SUBJECT: Consumer Protection: Insurance - General
TYPE: Original
DATE: February 6, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials from the Department of Insurance assume this proposal would not
fiscally impact their agency.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Small Business
Small businesses may be fiscally impacted to the extent that businesses with
poor credit may be able to obtain insurance.
DESCRIPTION
This legislation would prohibit insurers from using credit history as a
reason for refusing to insure.
This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.
SOURCES OF INFORMATION
Department of Insurance
This Fiscal Note is not an official copy and should not be quoted or cited.