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Relating to the provision of flood coverage under insurance policies issued by surplus lines insurers.
No significant fiscal implication to the State is anticipated.
HB 1306 would remove certain regulations that relate to the amount of flood insurance that certain surplus lines insurers are able to provide to insurers. According to the author, the purpose of this bill is to allow insurers to obtain additional flood insurance coverage from surplus lines insurers and give more flood insurance options to consumers.
Texas Action remains neutral on HB 1306 as it does not affect any of our liberty principles.