By: Lucio III (Senate Sponsor - Creighton) H.B. No. 1940
(In the Senate - Received from the House April 15, 2019;
April 16, 2019, read first time and referred to Committee on
Business & Commerce; May 2, 2019, reported favorably by the
following vote: Yeas 8, Nays 0; May 2, 2019, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to eligibility of surplus lines insurers to provide
windstorm and hail coverage.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 981.004, Insurance Code, is amended by
adding Subsection (e) to read as follows:
(e) Notwithstanding Subsection (a)(1), the availability of
windstorm and hail insurance from the Texas Windstorm Insurance
Association does not preclude an eligible surplus lines insurer
from providing windstorm and hail insurance under Subsection (a) or
limiting the amount of insurance that may be provided under
Subsection (b).
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2019.
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