Bill Text: TX SB95 | 2011-2012 | 82nd Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the use by insurers of certain standard insurance policy forms for residential property insurance.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2011-04-28 - Referred to Insurance [SB95 Detail]
Download: Texas-2011-SB95-Introduced.html
Bill Title: Relating to the use by insurers of certain standard insurance policy forms for residential property insurance.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2011-04-28 - Referred to Insurance [SB95 Detail]
Download: Texas-2011-SB95-Introduced.html
82R691 TJS-D | ||
By: Lucio | S.B. No. 95 |
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relating to required use by insurers of certain standard insurance | ||
policy forms for residential property insurance. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 2301.008, Insurance Code, is amended to | ||
read as follows: | ||
Sec. 2301.008. ADOPTION AND USE OF STANDARD FORMS. (a) | ||
Except as provided by Subsection (b), the [ |
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adopt standard insurance policy forms, printed endorsement forms, | ||
and forms related to [ |
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printed endorsement forms. | ||
(b) The commissioner shall adopt standard insurance policy | ||
forms, printed endorsement forms, and forms related to insurance | ||
policy forms and printed endorsement forms for use in writing | ||
residential property insurance. | ||
(c) In [ |
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than residential property insurance, an insurer may use the | ||
standard forms adopted by the commissioner under Subsection (a) | ||
instead of the insurer's own forms. In writing residential | ||
property insurance, an insurer shall use the standard forms in the | ||
manner prescribed by Section 2301.0525. | ||
SECTION 2. Section 2301.052(b), Insurance Code, is amended | ||
to read as follows: | ||
(b) Subject to Section 2301.0525, an [ |
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continue to use an insurance policy form or endorsement | ||
promulgated, approved, or adopted under Article 5.06 or 5.35 before | ||
June 11, 2003, on written notification to the commissioner that the | ||
insurer will continue to use the form or endorsement. | ||
SECTION 3. Subchapter B, Chapter 2301, Insurance Code, is | ||
amended by adding Section 2301.0525 to read as follows: | ||
Sec. 2301.0525. USE OF CERTAIN STANDARD INSURANCE POLICY | ||
FORMS REQUIRED. (a) Each insurer that writes residential property | ||
insurance in this state shall use the standard insurance policy | ||
forms adopted by the commissioner under Section 2301.008 for use in | ||
writing residential property insurance and, subject to Subsection | ||
(b), may use alternative policy forms approved by the commissioner | ||
under Section 2301.006. | ||
(b) An insurer may not deliver or issue for delivery a | ||
residential insurance policy to an applicant for that coverage in | ||
this state unless the insurer, in the manner prescribed by the | ||
commissioner by rule, informs the applicant that the applicant may | ||
elect to obtain residential property insurance coverage under a | ||
standard insurance policy adopted by the commissioner under Section | ||
2301.008. | ||
SECTION 4. 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 5. This Act takes effect September 1, 2011. |