Bill: HB 769, 87(R) - 2021

Committee

House Insurance

2nd Chamber Committee

Senate Jurisprudence

Vote Recommendation

Vote Recommendation Economic Freedom Property Rights Personal Responsibility Limited Government Individual Liberty
No Negative Neutral Neutral Negative Neutral

Author(s)

Mayes Middleton
Alex Dominguez
Todd Hunter
J.M. Lozano

Co-Author(s)

Abel Herrero

Sponsor(s)

Larry Taylor

Bill Caption

Relating to the administration of the Texas Windstorm Insurance Association.

Fiscal Notes

No significant fiscal implication to the State is anticipated.


Bill Analysis

HB 769 would prohibit the board of directors of the Texas Windstorm Insurance Association from voting on a proposed rate filing if there is a vacancy on the board.  

The bill would also prohibit the association from buying reinsurance from an insurer or broker involved in the execution of a catastrophe model on which the association relies on to determine the probable maximum loss applicable for the period covered by the reinsurance or for adopting rates.


Vote Recommendation Notes

Texas Action opposes HB 769 which would put the legislature squarely in the middle of micromanaging windstorm insurance rather than allowing rates to be guided by sound actuarial principles. State intervention of this type expands the scope of government and restricts the free market from operating as it should. 


Source URL (retrieved on 03/28/2024 09:03 AM): http://reports.texasaction.com/bill/87r/hb769?print_view=true