Date Requested: January 16, 2015
Time Requested: 11:24 AM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
2039 Introduced SB251
CBD Subject: Workers Comp.


FUND(S):

7152, 7162, 7163, 7164, 7165, 7173

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.


    Senate Bill 251, if enacted, will have no significant fiscal impact on the revenues or expenses of the Offices of the Insurance Commissioner.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2015
Increase/Decrease
(use"-")
2016
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


    Senate Bill 251 would have no fiscal impact on the revenues or expenses of the Offices of the Insurance Commissioner (OIC), as no coverage for, or liability related to deliberate intent actions is present in any of the Funds administered by the OIC.
    
    The Board of Risk and Insurance Management (BRIM) does provide certain coverage for private causes of action brought against participants in the State Entities Worker's Compensation Program Fund (SEWC)in excess of the standard statutory worker's compensation coverage.
    
    The fiscal impact of SB 251 on BRIM as related to the SEWC should be considered.



    Person submitting Fiscal Note: Melinda Kiss
    Email Address: Melinda.Kiss@wvinsurance.gov