Bill: HB 1132, 84(R) - 2015
Committee
House Insurance
Vote Recommendation
Vote Recommendation |
Economic Freedom |
Property Rights |
Personal Responsibility |
Limited Government |
Individual Liberty |
Neutral |
Neutral |
Neutral |
Neutral |
Neutral |
Neutral |
Author(s)
Paul Workman
Bill Caption
Relating to the regulation of certain policy forms used for insuring certain large risks.
Fiscal Notes
No significant fiscal implication to the State is anticipated.
Bill Analysis
HB 1132 would amend Section 2301.004 (Exemption for Large
Risks) of the Insurance Code. This legislation would change the requirements
for policy forms that are exempt from Section 2301.006 (Filing and Approval of
Forms), certain provisions of 2301.007 (Disapproval of Forms; Withdrawal of
Approval); and 2301.008 (Adoption and Use of Standard Forms). Under HB 1132, an
insurance form would be exempt from the sections in the aforementioned if one
of the following occurs as described by the bill author's analysis on TLO:
- from $5 million or more in total insured property values to $10 million or more in total
insured property values;
- from $10 million or more in total annual gross revenues to $20 million or more in total
annual gross revenues;
- from $25,000 or more in total premium for property insurance to $100,000 or more in
total premium for property insurance;
- from $25,000 or more in total premium for general liability insurance to $100,000 or
more in total premium for general liability insurance; and
- from $50,000 or more in total premium for multiperil insurance to $100,000 or more in
total premium for multiperil insurance.
Vote Recommendation Notes
HB 1132 would not add new regulations but rather simply change the threshold for the exemptions already authorized under the law. As such we are neutral on this legislation which neither affirms nor offends our liberty principles.
Organizations Supporting
AGC-Texas Building Branch
Associated Builders and Contractors of Texas
Independent Insurance Agents of Texas
Texas Water Infrastructure Network
Organizations Opposed
ACE Group
American Insurance Association
Liberty Mutual Insurance
National Association of Mutual Insurance Companies
Property Casualty Insurers Association of America
Texas Association of Business