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A BILL TO BE ENTITLED
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AN ACT
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relating to residential and commercial insurance deductibles. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2171.004, Insurance Code, is amended to |
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read as follows: |
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Sec. 2171.004. [RATE] FILINGS. An insurer shall file with |
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the commissioner in accordance with Chapter 2251 the following |
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information for commercial group property insurance written under |
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this chapter in this state: |
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(1) rates; |
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(2) deductibles; |
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(3) supplementary rating information; and |
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(4) [(3)] pertinent supporting information. |
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SECTION 2. Subchapter D, Chapter 2211, Insurance Code, is |
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amended by adding Section 2211.158 to read as follows: |
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Sec. 2211.158. RULES REGARDING COVERAGE. The commissioner |
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shall adopt rules as necessary to implement this subchapter, |
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including any rules necessary to: |
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(1) implement changes in the plan of operation; and |
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(2) standardize deductibles charged by the |
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association. |
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SECTION 3. Subchapter B, Chapter 2251, Insurance Code, is |
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amended by adding Section 2251.053 to read as follows: |
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Sec. 2251.053. DEDUCTIBLES. The commissioner by rule may |
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establish standards by which an insurer shall set deductible |
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amounts for residential and commercial insurance. |
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SECTION 4. This Act applies only to an insurance policy or |
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contract or evidence of coverage that is delivered, issued for |
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delivery, or renewed on or after January 1, 2010. An insurance |
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policy or contract or evidence of coverage delivered, issued for |
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delivery, or renewed before January 1, 2010, is governed by the law |
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as it existed immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 5. This Act takes effect September 1, 2009. |