By Eiland H.B. No. 2251
76R8331 DB-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the reduction of certain windstorm insurance rates.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 8(h)(10), Article 21.49, Insurance Code,
1-5 is amended to read as follows:
1-6 (10) A filing made under this subsection may not
1-7 reflect an annual premium rate change that is more than 10 [15]
1-8 percent (higher or lower) of the rate for [commercial] windstorm
1-9 and hail insurance in each rate classification in effect on
1-10 September 1, 1998 [1995]. This subdivision expires January 1, ___
1-11 [2001], provided however, that the commissioner may, after notice
1-12 and hearing, suspend this subdivision upon a finding that a
1-13 catastrophe loss or series of occurrences resulting in losses in
1-14 the catastrophe area justify a need to assure rate adequacy in the
1-15 catastrophe area and also justify a need to assure availability of
1-16 insurance outside the catastrophe area.
1-17 SECTION 2. This Act takes effect September 1, 1999.
1-18 SECTION 3. The importance of this legislation and the
1-19 crowded condition of the calendars in both houses create an
1-20 emergency and an imperative public necessity that the
1-21 constitutional rule requiring bills to be read on three several
1-22 days in each house be suspended, and this rule is hereby suspended.