| 1 | 1 | | 85R7848 PMO-D |
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| 2 | 2 | | By: Muñoz, Jr. H.B. No. 1520 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the annual reporting of certain information regarding |
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| 8 | 8 | | property and casualty insurance. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 2251.008(c), Insurance Code, is amended |
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| 11 | 11 | | to read as follows: |
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| 12 | 12 | | (c) The report required by this section must cover a |
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| 13 | 13 | | calendar year and: |
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| 14 | 14 | | (1) for each insurer that writes a line of insurance |
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| 15 | 15 | | subject to this subchapter, must state the insurer's: |
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| 16 | 16 | | (A) market share; |
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| 17 | 17 | | (B) profits and losses; |
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| 18 | 18 | | (C) average loss ratio; and |
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| 19 | 19 | | (D) whether the insurer submitted a rate filing |
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| 20 | 20 | | during the year covered in the report; [and] |
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| 21 | 21 | | (2) for each rate filing identified [submitted] under |
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| 22 | 22 | | Subdivision (1)(D), must indicate any significant impact on |
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| 23 | 23 | | policyholders, the overall rate change from the rate previously |
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| 24 | 24 | | used by the insurer stated as a percentage, and any rate changes for |
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| 25 | 25 | | the previous 12, 24, and 36 months; and |
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| 26 | 26 | | (3) for each property and casualty insurer, must state |
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| 27 | 27 | | the information required by Subdivisions (1) and (2) in the |
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| 28 | 28 | | aggregate and by rating territory and county. |
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| 29 | 29 | | SECTION 2. Section 2251.008(c), Insurance Code, as amended |
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| 30 | 30 | | by this Act, applies only to a report filed on or after January 1, |
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| 31 | 31 | | 2018. A report filed before January 1, 2018, is governed by the law |
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| 32 | 32 | | as it existed immediately before the effective date of this Act, and |
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| 33 | 33 | | that law is continued in effect for that purpose. |
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| 34 | 34 | | SECTION 3. This Act takes effect September 1, 2017. |
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