Texas 2013 - 83rd Regular

Texas House Bill HB2125

Filed
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to attorney's fees and interest rates that may be awarded in connection with certain property insurance claims.

Note

HB2125 applies specifically to claims involving insurance policies issued, delivered, or renewed on or after January 1, 2014, thereby ensuring that changes are not retroactive. The overall goal is to create a more controlled and predictable claims environment within Texas's property insurance market.

Impact

The introduction of HB2125 will impact the legal landscape by curtailing the extent of attorney's fees recoverable in disputes related to property insurance claims. By capping these fees, the bill aims to deter excessive litigation, which could lead to higher insurance premiums for all policyholders. It also ensures that insured parties are aware of the financial implications of pursuing legal action against insurers, potentially reducing the number of claims filed in court.

Summary

House Bill 2125 addresses the legal framework surrounding property insurance claims in Texas. Specifically, it establishes guidelines for the recovery of attorney's fees associated with such claims, stipulating that an insured party may not recover attorney's fees exceeding 40 percent of the amount owed under an insurance policy that exceeds any amount already paid by the insurer. The bill is designed to streamline the claims process and provide more predictable outcomes during litigation concerning property losses.

Contention

While proponents of HB2125 argue that it will promote fairness and efficiency in how property insurance claims are handled, critics may raise concerns regarding the potential limitation on the rights of insured parties to seek full redress through the legal system. Detractors might argue that by capping attorney's fees, the bill could dissuade individuals from pursuing legitimate claims against insurance companies, potentially leaving policyholders vulnerable to unjust treatment by insurers.

Companion Bills

No companion bills found.

Previously Filed As

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 HB1587

Relating to the use by insurance companies of separate accounts in connection with life insurance and annuities and certain other benefits.

TX SB1734

Relating to the use by insurance companies of separate accounts in connection with life insurance and annuities and certain other benefits.

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.

TX SB741

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

TX HB4194

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

TX SB172

Relating to the reporting of lost or stolen firearms and to proof of loss for personal property insurance coverage for those firearms; creating a criminal offense.

TX HB5011

Relating to amendments to the Uniform Commercial Code, including amendments concerning certain intangible assets and the perfection of security interests in those assets.

Similar Bills

CA AB2013

Property taxation: new construction: damaged or destroyed property.

CA AB1500

Property taxation: application of base year value: disaster relief.

CA AB245

Property taxation: application of base year value: disaster relief.

DC B25-0486

Uniform Community Property Disposition at Death Act of 2023

CA SB603

Property taxation: transfer of base year value: disaster relief.

CA SB964

Property tax: tax-defaulted property sales.

CA SB1091

Property taxation: transfer of base year value: disaster relief.

HI HB1398

Relating To Property.