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A BILL TO BE ENTITLED
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AN ACT
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relating to the regulation of property and casualty insurance |
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rates. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2251.003(c), Insurance Code, is amended |
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to read as follows: |
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(c) Sections 2251.008, 2251.052, 2251.101, 2251.102, |
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[2251.103,] 2251.104, 2251.105, and 2251.107 do not apply to a |
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Lloyd's plan or a reciprocal or interinsurance exchange with |
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respect to commercial property insurance, inland marine insurance, |
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rain insurance, or hail insurance on farm crops. |
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SECTION 2. Section 2251.1031(b), Insurance Code, is amended |
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to read as follows: |
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(b) If the department requests additional information from |
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the insurer during the 30-day period described by Section |
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[2251.103(a) or] 2251.153(a) or under a second 30-day period |
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described by Section [2251.103(c) or] 2251.153(c), as applicable, |
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the time between the date the department submits the request to the |
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insurer and the date the department receives the information |
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requested is not included in the computation of the first 30-day |
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period or the second 30-day period, as applicable. |
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SECTION 3. Section 2251.104(a), Insurance Code, is amended |
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to read as follows: |
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(a) The commissioner may disapprove only a rate that is in |
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effect, and may do so only after a hearing. The commissioner shall |
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provide the filer written notice not later than the 30th day after |
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the date the rate takes effect, and not later than the 20th day |
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before the date of the hearing [at least 20 days' written notice]. |
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SECTION 4. Sections 2251.156(a) and (b), Insurance Code, |
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are amended to read as follows: |
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(a) If the commissioner disapproves a rate filing under |
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Section 2251.153(a)(2), the commissioner shall issue an order |
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specifying in what respects the rate fails to meet the requirements |
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of this chapter [disapproving the filing in accordance with Section
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2251.103(d)]. |
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(b) An insurer whose rate filing is disapproved is entitled |
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to a hearing on written request made to the commissioner not later |
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than the 30th day after the date the order disapproving the rate |
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takes effect [in accordance with Section 2251.103(e)]. |
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SECTION 5. Section 2251.103, Insurance Code, is repealed. |
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SECTION 6. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2013. |