Bill Text: TX HB3969 | 2021-2022 | 87th Legislature | Comm Sub

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Bill Title: Relating to consideration by an insurer of certain insurers' filed rates and factors in setting the insurer's rates.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2021-05-13 - Postponed 5/3/22 10:00 AM [HB3969 Detail]

Download: Texas-2021-HB3969-Comm_Sub.html

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87R20449 RDS-F
By: Sanford H.B. No. 3969
Substitute the following for H.B. No. 3969:
By: Oliverson C.S.H.B. No. 3969

A BILL TO BE ENTITLED
AN ACT
relating to consideration by an insurer of certain insurers' filed
rates and factors in setting the insurer's rates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2251.052, Insurance Code, is amended by
adding Subsections (f), (g), and (h) to read as follows:
(f) Notwithstanding Section 1953.051(a), in setting rates,
an insurer writing personal or commercial automobile insurance may
include in a filing made under this chapter any rating rule, rate
variable, or rate classification that a county mutual insurance
company has filed and implemented under this chapter.
(g) An insurer that files a rating rule, rate variable, or
rate classification under Subsection (f) shall:
(1) indicate in the insurer's rate filing that the
insurer is filing the rating rule, rate variable, or rate
classification under Subsection (f); and
(2) reflect any cost savings realized by filing the
rating rule, rate variable, or rate classification under Subsection
(f) in the insurer's filing.
(h) Subsections (f) and (g) may not be construed to affect
any law relating to the confidentiality or public disclosure of
rate filings or of the department's review of rate filings.
SECTION 2. Sections 2251.052(f), (g), and (h), Insurance
Code, as added by this Act, apply only to a rate filed with the
commissioner of insurance under Chapter 2251, Insurance Code, on or
after the effective date of this Act.
SECTION 3. This Act takes effect September 1, 2021.