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House Bill 3271 |
House Author: Eiland |
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Effective: 9-1-07 |
Senate Sponsor: Janek |
House Bill 3271 amends the Insurance Code to require the commissioner of insurance, in fixing premium rates for title insurance, to consider certain information included in a statistical report submitted by a title insurance company or agent as required by the Texas Department of Insurance (TDI). The bill requires a company or agent to submit such a report annually to TDI and provides for the filing of a suit on certain grounds by such a company or agent aggrieved by a TDI requirement for submitting information. The bill also amends provisions relating to the admission of another party to the ratemaking phase of the commissioner's biennial public hearing. These changes apply to the premium rate applicable to a title insurance policy that is delivered, issued, or renewed on or after January 1, 2009.