| 1 | 1 | | 83R26005 TJS-D |
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| 2 | 2 | | By: Lucio, et al. S.B. No. 112 |
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| 3 | 3 | | (Smithee) |
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| 4 | 4 | | Substitute the following for S.B. No. 112: No. |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to a requirement for and the contents of a declarations |
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| 10 | 10 | | page required for certain standard insurance policy forms for |
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| 11 | 11 | | residential property insurance. |
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| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Subchapter B, Chapter 2301, Insurance Code, is |
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| 14 | 14 | | amended by adding Section 2301.056 to read as follows: |
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| 15 | 15 | | Sec. 2301.056. REQUIREMENT FOR FORMS; DECLARATIONS PAGE |
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| 16 | 16 | | REQUIREMENT. (a) A residential property insurance policy form |
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| 17 | 17 | | must include a declarations page that: |
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| 18 | 18 | | (1) lists and identifies each type of deductible under |
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| 19 | 19 | | the residential property insurance policy; and |
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| 20 | 20 | | (2) states the exact dollar amount of each deductible |
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| 21 | 21 | | under the residential property insurance policy. |
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| 22 | 22 | | (b) If a residential property insurance policy or an |
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| 23 | 23 | | endorsement attached to the policy contains a provision that may |
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| 24 | 24 | | cause the exact dollar amount of a deductible under the policy to |
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| 25 | 25 | | change, the declarations page must identify or include a written |
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| 26 | 26 | | disclosure that clearly identifies the applicable policy provision |
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| 27 | 27 | | or endorsement. The policy provision or endorsement must explain |
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| 28 | 28 | | how any change in the applicable deductible amount is determined. |
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| 29 | 29 | | (c) A disclosure containing a list required by Subsection |
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| 30 | 30 | | (a)(1), or a disclosure containing an identification of each |
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| 31 | 31 | | applicable policy provision or endorsement, may be provided on a |
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| 32 | 32 | | page separate from the declarations page. |
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| 33 | 33 | | SECTION 2. This Act applies only to an insurance policy |
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| 34 | 34 | | delivered, issued for delivery, or renewed on or after January 1, |
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| 35 | 35 | | 2014. A policy delivered, issued for delivery, or renewed before |
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| 36 | 36 | | January 1, 2014, is governed by the law as it existed immediately |
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| 37 | 37 | | before the effective date of this Act, and that law is continued in |
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| 38 | 38 | | effect for that purpose. |
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| 39 | 39 | | SECTION 3. This Act takes effect September 1, 2013. |
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