Relating to prohibition of certain extra hazardous coverages by title insurance companies.
Impact
The implementation of SB735 is expected to reinforce consumer protections within the title insurance sector by explicitly forbidding insurance coverage related to specified types of hazardous transfers. By outlining these prohibitions, the bill seeks to minimize the risk of fraudulent claims that could undermine the rights of future creditors and property buyers. This legislation may also help maintain transparency and reliability within the title insurance market as it restricts coverage on high-risk transactions.
Summary
Senate Bill 735, introduced by Senator Carona, focuses on the regulation of title insurance companies in Texas, specifically prohibiting them from providing coverage against certain hazardous transactions. The bill prohibits title insurers from insuring against loss or damage resulting from claims that involve preferential or fraudulent transfers under federal bankruptcy laws or similar state laws. This measure aims to protect consumers and ensure the integrity of transactions related to property ownership and mortgages.
Contention
While the bill is presented as a necessary measure to protect consumers and uphold legislative integrity, discussions around its provisions suggest differing opinions on the implications for title insurance practices. Critics may argue that such prohibitions could limit the coverage options available to title companies, potentially driving up costs for consumers or restricting the ability of insurers to adapt to various market conditions. Proponents, on the other hand, view the restrictions as essential for safeguarding against fraudulent activities that can arise during property transactions.
Relating to professional liability insurance coverage for and prohibitions on providing to certain children procedures and treatments for gender transitioning, gender reassignment, or gender dysphoria; creating a criminal offense.
Relating to professional liability insurance coverage for and prohibitions on the provision to certain children of procedures and treatments for gender transitioning, gender reassignment, or gender dysphoria.
Relating to professional liability insurance coverage for and prohibitions on the provision to certain children of procedures and treatments for gender transitioning, gender reassignment, or gender dysphoria and to the abuse of a child.
Relating to consideration by insurers of certain prohibited criteria for ratemaking and coverage decisions and the use of disparate impact analysis regarding certain insurance practices.