S.B. No. 112
AN ACT
relating to a requirement for and the contents of a declarations
page required for certain standard insurance policy forms for
residential property insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 2301, Insurance Code, is
amended by adding Section 2301.056 to read as follows:
Sec. 2301.056. REQUIREMENT FOR FORMS; DECLARATIONS PAGE
REQUIREMENT. (a) A residential property insurance policy form
must include a declarations page that:
(1) lists and identifies each type of deductible under
the residential property insurance policy; and
(2) states the exact dollar amount of each deductible
under the residential property insurance policy.
(b) If a residential property insurance policy or an
endorsement attached to the policy contains a provision that may
cause the exact dollar amount of a deductible under the policy to
change, the declarations page must identify or include a written
disclosure that clearly identifies the applicable policy provision
or endorsement. The policy provision or endorsement must explain
how any change in the applicable deductible amount is determined.
(c) A disclosure containing a list required by Subsection
(a)(1), or a disclosure containing an identification of each
applicable policy provision or endorsement, may be provided on a
page separate from the declarations page.
SECTION 2. This Act applies only to an insurance policy
delivered, issued for delivery, or renewed on or after January 1,
2014. A policy delivered, issued for delivery, or renewed before
January 1, 2014, 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 3. This Act takes effect September 1, 2013.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 112 passed the Senate on
March 13, 2013, by the following vote: Yeas 31, Nays 0; and that
the Senate concurred in House amendment on May 20, 2013, by the
following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 112 passed the House, with
amendment, on May 16, 2013, by the following vote: Yeas 97,
Nays 44, four present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor