Texas 2011 - 82nd Regular

Texas Senate Bill SB95

Filed
 
Out of Senate Committee
4/11/11  
Introduced
11/8/10  
Voted on by Senate
4/21/11  
Voted on by House
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the use by insurers of certain standard insurance policy forms for residential property insurance.

Impact

If enacted, SB95 would modify existing regulations concerning residential property insurance by mandating that all insurance policies delivered, issued, or renewed after a specified date must use the approved standard forms. This change is expected to simplify the process of obtaining and comparing insurance policies for consumers, as all companies would adhere to a consistent format and content structure. It may also reduce disputes over policy terms, as standardized documents could clarify coverage and deductible amounts upfront.

Summary

SB95 is a bill intended to standardize specific insurance policy forms used for residential property insurance in Texas. The legislation proposes that the state's insurance commissioner adopts set standard forms and declarations pages that insurers may use instead of their own. This aims to enhance clarity and consistency in insurance documentation provided to policyholders, helping ensure that all essential information is clearly presented and easily understood. The bill's text specifies the requirements for the format and content of these forms, particularly regarding the listing and explanation of deductibles.

Contention

There may be points of contention surrounding this bill, particularly from insurance companies concerned about the regulatory burden of transitioning to a standardized system. Some insurers may argue that limiting their ability to create customized insurance forms could jeopardize their competitive edge and reduce the variety of options available in the market. Advocates for consumer protection, however, may support the bill for its potential to provide more transparently defined terms and foster better understanding among customers regarding their policy provisions.

Companion Bills

No companion bills found.

Previously Filed As

TX HB4194

Relating to an appraisal process for disputed losses under personal automobile or residential property insurance policies.

TX HB597

Relating to an appraisal procedure for disputed losses under certain property and casualty insurance policies.

TX SB1194

Relating to an appraisal procedure for disputed losses under certain property and casualty insurance policies.

TX HB1039

Relating to coverage of additional living expenses under a residential property insurance policy.

TX HB5276

Relating to residential property insurance coverage issued by the Texas Windstorm Insurance Association for low-income housing.

TX HB2257

Relating to notice of certain provisions in insurance policies issued by surplus lines insurers.

TX HB4498

Relating to the transfer and statutory novation of insurance policies from a transferring insurer to an assuming insurer through an insurance business transfer plan; authorizing fees.

TX HB1437

Relating to an appraisal process for disputed losses under personal automobile or residential property insurance policies.

TX SB1268

Relating to the payment of insurance deductibles for property insurance claims.

TX HB998

Relating to the provision of property owners' association insurance by the FAIR Plan Association in certain areas.

Similar Bills

No similar bills found.