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A BILL TO BE ENTITLED
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AN ACT
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relating to the annual reporting of certain information regarding |
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property and casualty insurance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2251.008(c), Insurance Code, is amended |
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to read as follows: |
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(c) The report required by this section must cover a |
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calendar year and: |
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(1) for each insurer that writes a line of insurance |
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subject to this subchapter, must state the insurer's: |
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(A) market share; |
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(B) profits and losses; |
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(C) average loss ratio; and |
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(D) whether the insurer submitted a rate filing |
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during the year covered in the report; [and] |
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(2) for each rate filing identified [submitted] under |
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Subdivision (1)(D), must indicate any significant impact on |
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policyholders, the overall rate change from the rate previously |
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used by the insurer stated as a percentage, and any rate changes for |
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the previous 12, 24, and 36 months; and |
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(3) for each property and casualty insurer, must state |
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the information required by Subdivisions (1) and (2) in the |
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aggregate and by rating territory and county. |
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SECTION 2. Section 2251.008(c), Insurance Code, as amended |
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by this Act, applies only to a report filed on or after January 1, |
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2018. A report filed before January 1, 2018, 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 3. This Act takes effect September 1, 2017. |