FISCAL NOTE
Date Requested: March 05, 2026
Time Requested: 03:59 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 4018 |
Comm. Sub. Eng. |
HB5521 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
7152
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 5521, if enacted, relates to public adjusters.
HB5521 would have no fiscal impact on the WV Offices of the Insurance Commissioner.
See Memorandum Summary for more information.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
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):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Memorandum
House Bill 5521, if enacted, relates to public adjusters by establishing application, licensure, examination requirements, establishes standards of conduct for public adjusters and establishes contract requirements for a public adjuster and insured.
While the provisions in HB5521 may impact the licensing review process of the OIC, we do not estimate additional resources would be required. HB5521 would have no fiscal impact to the OIC.
Person submitting Fiscal Note: Rhonda C Hartwell
Email Address: rhonda.c.hartwell@wv.gov