By Eiland H.B. No. 2252
76R7629 DB-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to commercial 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 15 percent
1-8 (higher or lower) of the rate for commercial windstorm and hail
1-9 insurance in each rate classification in effect on September 1,
1-10 1995. The [This subdivision expires January 1, 2001, provided
1-11 however, that the] commissioner may, after notice and hearing,
1-12 suspend this subdivision upon a finding that a catastrophe loss or
1-13 series of occurrences resulting in losses in the catastrophe area
1-14 justify a need to assure rate adequacy in the catastrophe area and
1-15 also justify a need to assure availability of insurance outside the
1-16 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.