85R7848 PMO-D
By: Muñoz, Jr. H.B. No. 1520
A BILL TO BE ENTITLED
AN ACT
relating to the annual reporting of certain information regarding
property and casualty insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2251.008(c), Insurance Code, is amended
to read as follows:
(c) The report required by this section must cover a
calendar year and:
(1) for each insurer that writes a line of insurance
subject to this subchapter, must state the insurer's:
(A) market share;
(B) profits and losses;
(C) average loss ratio; and
(D) whether the insurer submitted a rate filing
during the year covered in the report; [and]
(2) for each rate filing identified [submitted] under
Subdivision (1)(D), must indicate any significant impact on
policyholders, the overall rate change from the rate previously
used by the insurer stated as a percentage, and any rate changes for
the previous 12, 24, and 36 months; and
(3) for each property and casualty insurer, must state
the information required by Subdivisions (1) and (2) in the
aggregate and by rating territory and county.
SECTION 2. Section 2251.008(c), Insurance Code, as amended
by this Act, applies only to a report filed on or after January 1,
2018. A report filed before January 1, 2018, 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, 2017.