Texas panel gives insurers more time to answer regulatory requests
Current law requires companies to respond to data inquiries within 10 days after receipt. Such inquiries require additional personnel hours and resources which contribute to the overall cost of insurance products. Recognizing the cost of even the smallest regulation should give legislators pause when considering how much of a burden state agencies are allowed to place on private companies.
S.B. 183 was unanimously passed out of the committee and placed on the uncontested calendar. Currently, there is no companion bill filed in the House.