COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3045-05
Bill No.: Perfected SCS for SB 656
Subject: Insurance - General; Insurance Department
Type: Original
Date: February 14, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials from the Department of Social Services, the Missouri Department of Conservation, the Department of Transportation, the Department of Public Safety - Missouri State Highway Patrol, the Missouri Consolidated Health Care Plan, and the Department of Insurance assume this proposal would not fiscally impact their agencies.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal allows an insurer to provide insurance policies, endorsements, riders and explanatory materials in a language other than English. The English version shall govern disputes. If these materials are provided in a language other than English, the insurer shall provide a copy of the materials in English. The insurer shall disclose on such materials, in both English and the other language, that the translation is for informational purposes only and that the English version of the materials is controlling unless the language in the other language version is shown to be a fraudulent misrepresentation. Under this proposal, any knowing misrepresentation in providing materials in a language other than English shall be a violation of the Unfair Trade Practice Act.
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
Department of Social Services
Missouri Consolidated Health Care Plan
Department of Transportation
Missouri Department of Conservation
Department of Public Safety -
Missouri State Highway Patrol
Mickey Wilson, CPA
Acting Director
February 14, 2002