SRC-LBB S.B. 1119 78(R) BILL ANALYSIS Senate Research Center S.B. 1119 78R6402 KCR-FBy: Williams State Affairs 3/28/2003 As Filed DIGEST AND PURPOSE Currently, the Insurance Code does not address commercial group property insurance practices. As proposed, S.B. 1119 adds an article to the Insurance Code authorizing insurers to write commercial group property insurance for a group of businesses as long as members are engaged in a similar undertaking. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Subchapter C, Chapter 5, Insurance Code, by adding Article 5.41-3, as follows: Art. 5.41-3. COMMERCIAL GROUP PROPERTY INSURANCE. Authorizes an insurer to write commercial group property insurance for a group of businesses or for an association that constitutes a large risk as that term is described by Section 8(f), Article 5.13-2, of this code if the members of a group of businesses have clearly identifiable underwriting characteristics or the members of an association are engaged in similar undertakings. SECTION 2. Effective date: upon passage or September 1, 2003.