By: Watson S.B. No. 1659
A BILL TO BE ENTITLED
AN ACT
relating to the creation of a coverage summary for certain property
and casualty insurance policies.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 521.005(a), Insurance Code, is amended
to read as follows:
(2) the department's name and address; and
(3) the department's toll-free telephone number maintained
under Subchapter B; and.
(4) a coverage summary or other informational material to
help consumers understand the insurance policy offered or
purchased.
SECTION 2. Section 521.005, Insurance Code, is amended to
add the following:
(c) The commissioner may adopt by rule requirements for a
coverage summary or other informational material.
(d) Subsections (a) (4) and (c) apply to an insurer, as
defined in Section 38.002, and a farm mutual insurance company,
writing personal automobile or homeowners insurance as defined in
Section 2301.051 in this state, and their agents.
SECTION 3. This Act applies only to an insurance policy that
is delivered, issued for delivery, or renewed on or after January 1,
2016. A policy delivered, issued for delivery, or renewed before
January 1, 2016, 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 January 1, 2016.