83R7678 TJS-F
By: Schaefer H.B. No. 2257
A BILL TO BE ENTITLED
AN ACT
relating to the regulation of property and casualty insurance
rates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2251.003(c), Insurance Code, is amended
to read as follows:
(c) Sections 2251.008, 2251.052, 2251.101, 2251.102,
[2251.103,] 2251.104, 2251.105, and 2251.107 do not apply to a
Lloyd's plan or a reciprocal or interinsurance exchange with
respect to commercial property insurance, inland marine insurance,
rain insurance, or hail insurance on farm crops.
SECTION 2. Section 2251.1031(b), Insurance Code, is amended
to read as follows:
(b) If the department requests additional information from
the insurer during the 30-day period described by Section
[2251.103(a) or] 2251.153(a) or under a second 30-day period
described by Section [2251.103(c) or] 2251.153(c), as applicable,
the time between the date the department submits the request to the
insurer and the date the department receives the information
requested is not included in the computation of the first 30-day
period or the second 30-day period, as applicable.
SECTION 3. Section 2251.104(a), Insurance Code, is amended
to read as follows:
(a) The commissioner may disapprove only a rate that is in
effect, and may do so only after a hearing. The commissioner shall
provide the filer written notice not later than the 30th day after
the date the rate takes effect, and not later than the 20th day
before the date of the hearing [at least 20 days' written notice].
SECTION 4. Sections 2251.156(a) and (b), Insurance Code,
are amended to read as follows:
(a) If the commissioner disapproves a rate filing under
Section 2251.153(a)(2), the commissioner shall issue an order
specifying in what respects the rate fails to meet the requirements
of this chapter [disapproving the filing in accordance with Section
2251.103(d)].
(b) An insurer whose rate filing is disapproved is entitled
to a hearing on written request made to the commissioner not later
than the 30th day after the date the order disapproving the rate
takes effect [in accordance with Section 2251.103(e)].
SECTION 5. Section 2251.103, Insurance Code, is repealed.
SECTION 6. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2013.