Texas Senate Bill SB599

Texas 2015 - 84th Regular

Caption

Relating to insurers' choices in connection with uninsured or underinsured motorist coverage.

Impact

The introduction of SB599 is expected to impact the insurance landscape in Texas significantly. By enabling insurers to provide coverage options in a manner that suits their business models and the needs of their clients, this bill seeks to improve market efficiency. Furthermore, it can potentially lead to an increased uptake of coverage among motorists who previously might have opted out due to the limitations of existing insurance offerings.

Summary

Senate Bill 599 aims to modify the choices available to insurers regarding uninsured and underinsured motorist coverage. It allows insurers to offer coverage for bodily injury, sickness, disease, or death, as well as property damage either as individual policies or as bundled packages. This change is significant as it provides greater flexibility to both insurers and policyholders in how they can structure their coverage options.

Contention

Notable points of contention surrounding SB599 may arise from concerns about how these alterations might affect access to essential protections for motorists. Critics could argue that by allowing insurers more leeway in how policies are structured, there may be an increased risk of gaps in coverage for consumers, particularly for those who may be seeking comprehensive protection. Advocates of the bill are likely to counter this by emphasizing the need for innovation and adaptability in insurance products to better serve a changing market.