Amend SB 455 (house committee report) as follows:
(1) On page 1, line 6, strike "Subsection (d)" and substitute "Subsections (d) and (e)".
(2) On page 1, strike lines 11-17 and substitute the following:
(A) conducted in this state; and
(3) On page 1, line 20, strike the underlined period and substitute the following:
unless:
(A) the insurer and policyholder agree to a different venue after the insurer provides written notice to the policyholder of the insurer's request for a different venue; and
(B) the insurer provides the policyholder with a premium credit for the costs incurred by the policyholder as a result of the change in venue.
(e) Notwithstanding Subsection (d), for surplus lines insurance contracts for over $2 million in insured value, the insurer and policyholder may agree by mutual consent to a different arbitration venue and governance under another state's laws, provided the agreement is in a form.
(4) On page 1, line 21, strike "Section 981.101(d)" and substitute "Sections 981.101(d) and (e)".
(5) On page 1, line 22, strike "applies" and substitute "apply".