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House Bill 3358 |
House Author: Smithee |
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Effective: 9-1-07 |
Senate Sponsor: Ellis |
House Bill 3358 amends the Insurance Code to require an insurer that has filed a petition for judicial review of an order from the commissioner of insurance disapproving a property and casualty insurance rate filed by the insurer with the Texas Department of Insurance (TDI) to use the rate in effect for that insurer when the petition is filed. The bill prohibits the insurer from filing and using a higher rate for the same line of insurance before the matter under review is resolved unless the insurer has filed the new rate with TDI, along with other applicable information, and the commissioner has approved the rate. The bill requires the commissioner, if the commissioner requires an insurer to file its rates, to issue an order specifying the reasons for that requirement and entitles the affected insurer to a hearing on written request to the commissioner within 30 days after the order is issued.