TITLE: Relating to the annual reporting of certain information regarding property and casualty insurance.

SUMMARY: Relating to the annual reporting of certain information regarding property and casualty insurance.

FULL TEXT:
AN ACT relating to the annual reporting of certain information regarding property and casualty insurance. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 2251.008(c), Insurance Code, is amended to read as follows: (c) The report required by this section must cover a calendar year and: (1) for each insurer that writes a line of insurance subject to this subchapter, must state the insurer's: (A) market share; (B) profits and losses; (C) average loss ratio; and (D) whether the insurer submitted a rate filing during the year covered in the report; [and] (2) for each rate filing identified [submitted] under Subdivision (1)(D), must indicate any significant impact on policyholders, the overall rate change from the rate previously used by the insurer stated as a percentage, and any rate changes for the previous 12, 24, and 36 months;and (3) for each property and casualty insurer, must state the information required by Subdivisions (1) and (2) in the aggregate and by rating territory and county.SECTION 2. Section 2251.008(c), Insurance Code, as amended by this Act, applies only to a report filed on or after January 1, 2018. A report filed before January 1, 2018, is governed by the law as it existed immediately before the effective date of this Act, and that law is continued in effect for that purpose. SECTION 3. This Act takes effect September 1, 2017.