75R10743 PB-F
By Eiland H.B. No. 3031
Substitute the following for H.B. No. 3031:
By Eiland C.S.H.B. No. 3031
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the authority of the commissioner of insurance to
1-3 approve higher deductibles on coverage provided under certain
1-4 policies issued through the Texas Catastrophe Property Insurance
1-5 Association.
1-6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-7 SECTION 1. Section 8(a), Texas Catastrophe Property
1-8 Insurance Pool Act (Article 21.49, Insurance Code), is amended to
1-9 read as follows:
1-10 (a) The Association shall file with the Commissioner [Board]
1-11 every manual of classifications, rules, rates which shall include
1-12 condition charges, every rating plan, and every modification of any
1-13 of the foregoing which it proposes to use. Every such filing shall
1-14 indicate the character and the extent of the coverage contemplated
1-15 and shall be accompanied by the policies and endorsements forms
1-16 proposed to be used, which said forms and endorsements may be
1-17 designed specifically for use by the Association and without regard
1-18 to other forms filed with, approved by, or promulgated by the Board
1-19 for use in this State. The Association may make recommendations to
1-20 the Commissioner [not file changes] that would result in a
1-21 reduction of coverages or an increase in an applicable deductible
1-22 if any resultant reduction in coverages or increase in deductibles
1-23 is accompanied by proposed rate credits. After notice and hearing,
1-24 the Commissioner may accept, modify, or reject a recommendation
2-1 made by the Association under this subsection. Article 1.33B of
2-2 this code does not apply to an action taken under this subsection.
2-3 SECTION 2. This Act takes effect September 1, 1997.
2-4 SECTION 3. The importance of this legislation and the
2-5 crowded condition of the calendars in both houses create an
2-6 emergency and an imperative public necessity that the
2-7 constitutional rule requiring bills to be read on three several
2-8 days in each house be suspended, and this rule is hereby suspended.