TITLE: Relating to rates charged for residential property and personal automobile insurance in certain rating territories.

SUMMARY: Relating to rates charged for residential property and personal automobile insurance in certain rating territories.

FULL TEXT:
AN ACT relating to rates charged for residential property and personal automobile insurance in certain rating territories. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 2253.001(b), Insurance Code, is amended to read as follows: (b) The commissioner by rule may allow a greater rate difference than the rate difference specified by Subsection (a) only if the commissioner determines that the greater rate difference is justified solely by weather-related factors and is supported with sound actuarial data.SECTION 2. The change in law made by this Act applies only to a residential property or personal automobile insurance policy delivered, issued for delivery, or renewed on or after January 1, 2012. A policy delivered, issued for delivery, or renewed before January 1, 2012, is governed by the law in effect 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, 2011.