Amend CSSB 14 by striking Article 5 in its entirety and
substituting the following:
Article 5. Policy Forms For Certain Lines
Section 5.01. Article 5.06(3), Insurance Code, is amended to
read as follows:
(3) [The Board may approve the use of a policy form
adopted by a national organization of insurance companies, or
similar organization,] An insurer may use policy forms and
endorsements other than those adopted under Subsection (1) of this
article if the commissioner approves the form and endorsements and
if the form, with any endorsement to the form required and approved
by the Board, provides coverage equivalent to the coverage provided
by the form adopted by the Board under Subsection (1) of this
section. The commissioner shall approve or disapprove the filing
within 60 days after the filing is made.
Section 5.02. Article 5.35(c), Insurance Code, is amended to
read as follows:
(c) An insurer may use [The commissioner may approve the use
of] policy forms and endorsements other than those adopted under
Subsection (a) or (b) of this article [adopted by a national
organization of insurance companies or a similar organization,] if
the [such] forms or endorsements are filed with and are approved by
the commissioner in accordance with this article. The commissioner
shall approve or disapprove the filing within 60 days after the
filing is made.