This website will be unavailable from Friday, April 26, 2024 at 6:00 p.m. through Monday, April 29, 2024 at 7:00 a.m. due to data center maintenance.
Amend HB 1951 (house committee printing) as follows:
(1) On page 11, line 1, strike "An" and substitute "Except as provided by Subchapter D, an".
(2) Add the following appropriately numbered SECTIONS to ARTICLE 3 of the bill and renumber subsequent SECTIONS of that ARTICLE accordingly:
SECTION 3.____. Subchapter D, Chapter 2251, Insurance Code, is amended by adding Section 2251.1511 to read as follows:
Sec. 2251.1511. PRIOR APPROVAL FOR CERTAIN CONSUMER PROPERTY INSURANCE RATES. (a) Notwithstanding any other provision of this chapter, an insurer may not use a rate for residential property insurance or personal automobile insurance until the rate and all other information required by Section 2251.101 have been filed with the department and the rate has been approved by the commissioner. The department shall track, compile, and routinely analyze the factors that contribute to the disapproval of rates under this section.
(b) Sections 2251.151(b) and (d) apply to rates filed under this section.
(c) Section 2251.152 does not apply to rates for which prior approval is required by this section.
SECTION 3.____. Section 2251.1511, Insurance Code, as added by this Act, applies only to rates for residential property insurance or personal automobile insurance that is delivered, issued for delivery, or renewed on or after January 1, 2012. Rates for residential property insurance or personal automobile insurance delivered, issued for delivery, or renewed before January 1, 2012, are governed by the law in effect immediately before the effective date of this Act, and that law is continued in effect for that purpose.
(3) On page 15, line 16, between "Section 2251.153(a)(2)" and the comma, insert "or 2251.1511".