By Goodman                                            H.B. No. 2873

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the exemption for large risk insurance policies.

 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-4           SECTION 1.  Amend Sec. 8 (f), Art. 5.13-2, Texas Insurance

 1-5     Code, to read as follows:

 1-6           (f)  Policy forms for use with large risks are exempt from

 1-7     the requirements of Subsections (a), (b), and (e) of this section.

 1-8     For purposes of this subsection, "large risk" means:

 1-9                 (1)  an insured that has total insured property values

1-10     of $ 5 [10] million or more;

1-11                 (2)  an insured that has total annual gross revenues of

1-12     $ 10 [20] million or more; or

1-13                 (3)  an insured that has a total premium of $ 25

1-14     [50],000 or more for property insurance, $ 25 [50],000 or more for

1-15     general liability insurance, or $ 50 [100],000 or more for

1-16     multi-peril insurance.

1-17           SECTION 2.  The importance of this legislation and the

1-18     crowded condition of the calendars in both houses create an

1-19     emergency and an imperative public necessity that the

1-20     constitutional rule requiring bills to be read on three several

1-21     days in each house be suspended, and this rule is hereby suspended.