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A BILL TO BE ENTITLED
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AN ACT
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relating to notice of nonrenewal of a property and casualty |
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insurance policy. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 551.105, Insurance Code, is amended to |
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read as follows: |
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Sec. 551.105. NONRENEWAL OF POLICIES; NOTICE REQUIRED. |
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Unless the insurer has mailed written notice of nonrenewal or |
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renewal with written notice of change in coverage as provided by |
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Section 2002.001 to the insured not later than the 60th [30th] day |
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before the date on which the insurance policy expires, an insurer |
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must renew an insurance policy, at the request of the insured, on |
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the expiration of the policy. Notwithstanding the failure of an |
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insurer to comply with this section, the policy shall terminate on |
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the effective date of any replacement or succeeding insurance |
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policy with another carrier with respect to the insured |
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(a) personal automobile, (b) home, farm, ranch, dwelling, |
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duplex, or apartment, or (c) other real or personal property. |
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SECTION 2. The changes in law made by this Act apply only to |
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an insurance policy that is delivered, issued for delivery, or |
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renewed on or after January 1, 2024. A policy delivered, issued for |
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delivery, or renewed before January 1, 2024, is governed by the law |
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as it existed immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2023. |