By: Lucio S.B. No. 95
(In the Senate - Filed November 8, 2010; January 31, 2011,
read first time and referred to Committee on Business and Commerce;
April 11, 2011, reported adversely, with favorable Committee
Substitute by the following vote: Yeas 6, Nays 0; April 11, 2011,
sent to printer.)
COMMITTEE SUBSTITUTE FOR S.B. No. 95 By: Lucio
A BILL TO BE ENTITLED
AN ACT
relating to the 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) The commissioner may adopt standard insurance policy forms,
printed endorsement forms, and forms related to [forms other than]
insurance policy forms and printed endorsement forms, that an
insurer may use instead of the insurer's own forms in writing
insurance subject to this subchapter.
(b) The commissioner shall adopt a standard declarations
page for use with residential property forms subject to this
subchapter. An insurer may use the declarations page adopted by the
commissioner under this section instead of the insurer's own
declarations page. A declarations page adopted under this
subchapter must:
(1) list and explain each type of deductible
applicable to the form; and
(2) list the exact dollar amount of each deductible
applicable to the form.
SECTION 2. Section 2301.053, Insurance Code, is amended by
adding Subsection (b) to read as follows:
(e) A residential property form may not be used unless the
declarations page:
(1) lists and explains each type of deductible
applicable to the form; and
(2) lists the exact dollar amount of each deductible
applicable to the form.
SECTION 3. 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 4. This Act takes effect September 1, 2011.
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