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A BILL TO BE ENTITLED
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AN ACT
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relating to the reporting of certain claims information by |
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automobile and residential property insurers to the Texas |
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Department of Insurance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 38, Insurance Code, is amended by adding |
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Subchapter K to read as follows: |
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SUBCHAPTER K. CLAIMS REPORTING BY CERTAIN INSURERS |
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Sec. 38.501. CLAIMS REPORTING BY AUTOMOBILE OR PROPERTY |
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INSURER. (a) In this subchapter, "insurer" means an insurance |
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company, reciprocal or interinsurance exchange, mutual insurance |
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company, capital stock company, county mutual insurance company, |
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Lloyd's plan, or other legal entity engaged in the business of |
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personal automobile insurance or residential property insurance in |
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this state. |
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(b) An insurer shall submit a quarterly report to the |
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department containing the following information organized by zip |
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code: |
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(1) the number of claims filed with the insurer; and |
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(2) for each claim: |
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(A) the date the claim was filed with the |
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insurer; |
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(B) the date the claim was paid by the insurer; |
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(C) the amount of loss claimed within the |
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applicable policy limits; and |
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(D) the amount paid by the insurer to the |
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claimant. |
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(c) The commissioner by rule shall adopt the form of the |
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report required under Subsection (b). |
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SECTION 2. Not later than December 31, 2017, the |
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commissioner of insurance shall adopt rules to implement Subchapter |
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K, Chapter 38, Insurance Code, as added by this Act. The rules must |
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require that an insurance company subject to that subchapter make |
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the initial submission of the report under that subchapter not |
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later than the 60th day after the effective date of the rules. |
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SECTION 3. This Act takes effect September 1, 2017. |