Texas HB3983 regulates risk pools primarily consisting of political subdivisions, requiring annual disclosures and applying certain insurance laws.

Texas HB3983 establishes regulations for risk pools primarily consisting of political subdivisions. These risk pools must annually provide members with a written disclosure stating that the pool is not insurance and is not regulated like insurers. They must also furnish a copy of the declarations page of the coverage, detailing the types of coverage provided and the claims process. Additionally, risk pools must submit a budget report, a financial status report, and a report explaining each claim denial from the previous year.

Texas HB3983 regulates risk pools primarily consisting of political subdivisions, requiring annual disclosures and applying certain insurance laws.

Texas HB3983 establishes regulations for risk pools primarily consisting of political subdivisions. These risk pools must annually provide members with a written disclosure stating that the pool is not insurance and is not regulated like insurers. They must also furnish a copy of the declarations page of the coverage, detailing the types of coverage provided and the claims process. Additionally, risk pools must submit a budget report, a financial status report, and a report explaining each claim denial from the previous year.