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Senate Bill 1063 |
Senate Author: Hancock |
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Effective: 9-1-19 |
House Sponsor: Paul |
Senate Bill 1063 amends the Insurance Code to revise provisions relating to the operation of the Texas Property and Casualty Insurance Guaranty Association. Among other provisions, the bill revises the definition of "impaired insurer," changes the method of filling a vacancy on the association's board of directors for a seat filled by a public representative, requires audio recordings of board meetings to be posted online, and revises the requirements for holding a board meeting by telephone conference call.
Senate Bill 1063 entitles the association to recover costs, expenses, and reasonable attorney's fees incurred in contesting or defending against certain claims and requires a court to award the association costs and attorney's fees incurred in seeking certain recovery. The bill authorizes the association to handle claims through a contract claims adjuster and provides for the handling of claims through an insurer designated as a servicing facility.