BILL ANALYSIS

 

 

Senate Research Center	H.B. 1902
86R10210 SMT-D	By: Bonnen, Greg (Taylor)
	Business & Commerce
	5/1/2019
	Engrossed

 

 

 

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

H.B. 1902 amends current law relating to maximum liability limits for windstorm and hail insurance coverage provided through the Texas Windstorm Insurance Association.

 

RULEMAKING AUTHORITY

 

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

 

SECTION BY SECTION ANALYSIS

 

SECTION 1. Amends Section 2210.501(a), Insurance Code, as follows:

 

(a) Provides that the maximum liability limits are considered approved by the commissioner of insurance (commissioner) unless the commissioner disapproves or modifies the liability limits by order issued not later than the 30th day after the date of receipt of a filing under Section 2210.503 (Filing of Proposed Adjustments With Commissioner), rather than requiring the minimum liability limits to be approved by the commissioner.

 

SECTION 2. Amends Section 2210.504(a), Insurance Code, as follows:

 

(a) Requires the commissioner by order to approve, disapprove, or modify the proposed adjustment to the maximum liability limits not later than the 30th day after the date the commissioner disapproves or modifies a filing under Section 2210.503, and after notice and hearing, rather than not later than the 60th day after the date of receipt of a filing under Section 2210.503 and after notice and hearing.

 

SECTION 3. Makes application of this Act prospective to January 1, 2020.

 

SECTION 4. Effective date: September 1, 2019.