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AN ACT
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relating to certain insurance premium surcharges. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (c), Section 551.107, Insurance Code, |
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is amended to read as follows: |
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(c) An insurer may assess a premium surcharge at the time an |
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insurance policy is renewed if the insured has filed two [one] or |
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more claims in the preceding three policy years. The amount of the |
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surcharge must be based on sound actuarial principles. |
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SECTION 2. This Act applies only to an insurance policy |
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delivered, issued for delivery, or renewed on or after January 1, |
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2008. A policy delivered, issued for delivery, or renewed before |
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January 1, 2008, is governed by the law as it existed immediately |
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before the effective date of this Act, and that law is continued in |
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effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2007. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 978 passed the Senate on |
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March 28, 2007, by the following vote: Yeas 30, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 978 passed the House on |
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May 11, 2007, by the following vote: Yeas 132, Nays 4, two |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |