Bill Text: TX SB122 | 2017 | 85th Legislature 1st Special Session | Introduced


Bill Title: Relating to rate filings by the Texas Windstorm Insurance Association.

Spectrum: Bipartisan Bill

Status: (Introduced) 2017-08-11 - Filed [SB122 Detail]

Download: Texas-2017-SB122-Introduced.html
  85S12503 PMO-F
 
  By: Hinojosa, Taylor of Galveston S.B. No. 122
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to rate filings by the Texas Windstorm Insurance
  Association.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 2210.351(d), Insurance Code, is amended
  to read as follows:
         (d)  The association may use a rate filed by the association
  without prior commissioner approval if:
               (1)  the filing is made not later than the 30th day
  before the date of any use or delivery for use of the rate;
               (2)  the filed rate does not exceed 101 [105] percent of
  the rate in effect on the date on which the filing is made;
               (3)  the filed rate does not reflect a rate change for
  an individual rating class that is more than one [10] percent higher
  than the rate in effect for that rating class on the date on which
  the filing is made; and
               (4)  the commissioner has not disapproved the filing in
  writing, advising of the reasons for the disapproval and the
  criteria the association is required to meet to obtain approval.
         SECTION 2.  Section 2210.352(a-1), Insurance Code, is
  amended to read as follows:
         (a-1)  The association may use a rate filed by the
  association under this section without prior commissioner approval
  if:
               (1)  the filing is made not later than the 30th day
  before the date of any use or delivery for use of the rate;
               (2)  the filed rate does not exceed 101 [105] percent of
  the rate used by the association in effect on the date on which the
  filing is made; and
               (3)  the filed rate does not reflect a rate change for
  an individual rating class that is more than one [10] percent higher
  than the rate in effect for that rating class on the date on which
  the filing is made.
         SECTION 3.  The change in law made by this Act applies only
  to a rate filed by the Texas Windstorm Insurance Association with
  the Texas Department of Insurance on or after the effective date of
  this Act. A rate filed with the Texas Department of Insurance
  before the effective date of this Act is governed by the law as it
  existed immediately before that date, and that law is continued in
  effect for that purpose.
         SECTION 4.  This Act takes effect December 1, 2017.
feedback