Bill Text: TX HB2724 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to the requirement that certain information accompany residential property and personal automobile insurance documents.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-04-05 - Left pending in committee [HB2724 Detail]
Download: Texas-2011-HB2724-Introduced.html
82R9880 RWG-F | ||
By: Walle | H.B. No. 2724 |
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relating to the requirement that certain information accompany | ||
residential property and personal automobile insurance documents. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter A, Chapter 521, Insurance Code, is | ||
amended by adding Sections 521.006 and 521.007 to read as follows: | ||
Sec. 521.006. NOTICE TO ACCOMPANY RESIDENTIAL PROPERTY OR | ||
PERSONAL AUTOMOBILE INSURANCE RENEWAL POLICY. (a) At the time a | ||
residential property or personal automobile insurance policy is | ||
renewed, the insurer shall provide the insured a copy of the renewal | ||
policy. The policy must contain on the first page: | ||
(1) a table that clearly lists the premium charged | ||
under the policy before renewal, the new premium charged under the | ||
renewal policy, and the percentage change, if any, between these | ||
amounts; and | ||
(2) an explanation, in plain language, of any changes | ||
in the coverage under the renewal policy. | ||
(b) If there is an increase in the premium or change in the | ||
coverage under the renewal policy, the first page of the renewal | ||
policy must contain a statement advising the consumer of the | ||
department's website that is designated by the department to help | ||
consumers compare premiums and coverages of different insurers' | ||
policies. | ||
(c) The commissioner shall adopt appropriate wording for | ||
the notices. | ||
(d) This section and Section 521.007 apply to personal | ||
automobile insurance or residential property insurance issued by an | ||
insurance company, a reciprocal or interinsurance exchange, a | ||
mutual insurance company, a capital stock company, a county mutual | ||
insurance company, a Lloyd's plan, or another legal entity | ||
authorized to write residential property insurance or personal | ||
automobile insurance in this state, including an affiliate, as | ||
described by this code, that is authorized to write residential | ||
property insurance, the Texas Windstorm Insurance Association | ||
under Chapter 2210, and the FAIR Plan Association under Chapter | ||
2211. | ||
Sec. 521.007. STATEMENT OF DEDUCTIBLE ON RESIDENTIAL | ||
PROPERTY OR PERSONAL AUTOMOBILE INSURANCE DOCUMENT. An insurance | ||
policy or other document related to residential property or | ||
personal automobile insurance coverage that expresses a deductible | ||
as a percentage of the coverage amount must state the actual dollar | ||
amount of the deductible next to the percentage. | ||
SECTION 2. This Act applies only to an insurance policy | ||
delivered, issued for delivery, or renewed on or after January 1, | ||
2012. A policy delivered, issued for delivery, or renewed before | ||
January 1, 2012, is governed by the law as it existed immediately | ||
before the effective date of this Act, and that law is continued in | ||
effect for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2011. |