Amend CSHB 2960, house committee printing, by adding the
following SECTION, appropriately numbered, and renumbering the
SECTIONS of the bill accordingly:
SECTION ____. Subchapter E, Chapter 2210, Insurance Code, is
amended by adding Section 2210.209 to read as follows:
Sec. 2210.209. NOTICE TO APPLICANTS FOR INSURANCE AND
POLICYHOLDERS; CONSUMER INFORMATION. (a) Each application for
insurance and each policy issued by the association must include a
notice as provided by this section. The commissioner by rule may
prescribe specific requirements for the notice. The notice must be
substantially as follows:
IMPORTANT NOTICE TO TEXAS WINDSTORM INSURANCE
ASSOCIATION POLICYHOLDERS
Insurance policies issued by the Texas Windstorm Insurance
Association are not guaranteed by the state or federal government.
In the event of a major catastrophe, the association may not have
sufficient funding resources to pay all losses to all policyholders
suffering damage. In such an event, you may be paid less than the
full amount of damages that you suffer. You may obtain additional
information as to the association's potential exposure and its
available funding resources at www.tdi.state.tx.us.
(b) The department shall establish a link on the
department's Internet website through which applicants for
insurance coverage through the association and association
policyholders may obtain information in a format easily understood
about the association's exposure and available resources.