FISCAL NOTE

Date Requested: March 09, 2017
Time Requested: 11:39 AM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
2262 Introduced HB2619
CBD Subject: Insurance


FUND(S):

7152

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


House Bill 2619 will not have any fiscal impact on the Offices of the Insurance Commissioner.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2017
Increase/Decrease
(use"-")
2018
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):






Memorandum


HB 2619 will not impact the operations, revenues or expenses of the Officers of the Insurance Commissioner. The purpose of House Bill 2619 is to adopt the National Association of Insurance Commissioners' Risk Management and Own Risk Solvency Assessment Model for implementation by WV insurers so that they are better able to assess their financial condition and solvency.



    Person submitting Fiscal Note: Melinda Ashworth Kiss
    Email Address: Melinda.A.Kiss@wv.gov