TITLE: Relating to requirements for insurance agents offering windstorm and hail insurance policies issued by the Texas Windstorm Insurance Association.

SUMMARY: Relating to requirements for insurance agents offering windstorm and hail insurance policies issued by the Texas Windstorm Insurance Association.

FULL TEXT:
AN ACT relating to requirements for insurance agents offering windstorm and hail insurance policies issued by the Texas Windstorm Insurance Association. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter A, Chapter 2210, Insurance Code, is amended by adding Section 2210.016 to read as follows: Sec. 2210.016. AGENT REQUIREMENTS. (a) The association may establish requirements that an agent must comply with to offer or sell a Texas windstorm and hail insurance policy under this chapter. (b) The association may audit an agent who offers or sells Texas windstorm and hail insurance policies under this chapter to determine the agent's compliance with requirements established under Subsection (a). If the association finds that an agent is not in compliance with association requirements, the association may take appropriate action to limit or prohibit the agent from offering or selling a Texas windstorm and hail insurance policy under this chapter until the agent complies with those requirements. (c) An agent who offers or sells Texas windstorm and hail insurance policies under this chapter is not an agent of the association. SECTION 2. This Act takes effect September 1, 2023.