78R
By: Burnam H.B. No. 121
A BILL TO BE ENTITLED
AN ACT
relating to policy forms for personal fire and homeowners
insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article 5.35, Insurance Code, is amended by
adding Subsections (k), (l), and (m) to read as follows:
(k) Each insurer that writes homeowners insurance in this
state shall offer homeowners coverage written through the HO-B
policy form, as adopted by the commissioner and in effect on January
1, 2003, or a policy form that offers equivalent coverage, as
determined by the commissioner.
(l) An insurer shall make available to consumers a
side-by-side comparison of each policy form of personal fire and
homeowners insurance subject to this article that is offered by the
insurer. The commissioner may adopt rules governing the form and
content of the side-by-side comparisons required by this
subsection.
(m) This article applies to each insurer that writes a
policy of personal fire or homeowners insurance in this state,
including a farm mutual insurance company and a reciprocal or
interinsurance exchange.
SECTION 2. This Act takes effect September 1, 2003, and
applies only to an insurance policy that is delivered, issued for
delivery, or renewed on or after January 1, 2004. A policy that is
delivered, issued for delivery, or renewed before January 1, 2004,
is governed by the law as it existed immediately before the
effective date of this Act, and that law is continued in effect for
this purpose.