88R14148 KBB-F
 
  By: Harris of Williamson H.B. No. 5048
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to boycott, coercion, and intimidation activities by
  insurance companies regarding environmental, social, and
  governance matters.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 541.054, Insurance Code, is amended to
  read as follows:
         Sec. 541.054.  BOYCOTT, COERCION, OR INTIMIDATION.  (a) It
  is an unfair method of competition or an unfair or deceptive act or
  practice in the business of insurance to commit through concerted
  action or to enter into an agreement to commit an act of boycott,
  coercion, or intimidation that results in or tends to result in the
  unreasonable restraint of or a monopoly in the business of
  insurance.
         (b)  An act of boycott, coercion, or intimidation includes
  refusing to deal with, terminating business activities with, or
  otherwise taking any commercial action that is intended to
  penalize, inflict economic harm on, limit commercial relations
  with, or change or limit the activities of a company because the
  company, without violating controlling federal or state law:
               (1)  engages in the exploration, production,
  utilization, transportation, sale, or manufacturing of fossil
  fuel-based energy, timber, mining, or agriculture;
               (2)  engages in, facilitates, or supports the
  manufacture, import, distribution, marketing or advertising, sale,
  or lawful use of firearms, ammunition, or component parts and
  accessories of firearms or ammunition;
               (3)  contracts with the United States Immigration and
  Customs Enforcement for the provision of federal immigration
  detention centers or support services related to the implementation
  of federal immigration and border security laws, regulations, and
  policies;
               (4)  does not meet, is not expected to meet, or does not
  commit to meet environmental standards or disclosure criteria, in
  particular to eliminate, reduce, offset, or disclose greenhouse gas
  emissions; or
               (5)  does not meet, is not expected to meet, or does not
  commit to meet corporate board, employment, composition,
  compensation, or disclosure criteria that incorporates
  characteristics protected under Chapter 21, Labor Code.
         (c)  A method of competition, act, or practice in the
  business of insurance may be determined to be an action to boycott,
  coerce, or intimidate based on evidence indicating that purpose,
  including:
               (1)  branding, advertising, statements, explanations,
  reports, letters to clients, communications with portfolio
  companies, statements of principles, or commitments; or
               (2)  participation in, affiliation with, or status as a
  signatory to any coalition, initiative, joint statement of
  principles, or agreement.
         SECTION 2.  This Act takes effect September 1, 2023.