81R6572 TJS-D
By: Davis of Dallas H.B. No. 1458
A BILL TO BE ENTITLED
AN ACT
relating to insurance rates for residential property insurance
policyholders at least 65 years of age.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. The heading to Section 2251.005, Insurance Code,
is amended to read as follows:
Sec. 2251.005. [NOTICE OF] RATE INCREASE FOR RESIDENTIAL
PROPERTY INSURANCE POLICIES.
SECTION 2. Section 2251.005, Insurance Code, is amended by
adding Subsection (e) to read as follows:
(e) Notwithstanding any other law, an insurer may not
increase the rate of a residential property insurance policy held
by a policyholder who is at least 65 years of age for any coverage
under the policy in effect as of the date on which the policyholder
becomes 65 years of age.
SECTION 3. This Act applies only to an insurance policy that
is delivered, issued for delivery, or renewed on or after January 1,
2010. A policy delivered, issued for delivery, or renewed before
January 1, 2010, 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 4. This Act takes effect September 1, 2009.