TX Updates Consumer Bill of Rights

Texas Insurance Commissioner Jose Montemayor has approved updates to a consumer bill of rights, which automobile and residential property insurers are obligated to provide their policyholders. According to the Texas Department of Insurance, as provided by the Texas Insurance Code, the Office of Public Insurance Counsel (OPIC) submitted proposed changes to the bills of rights. Texas Department of Insurance (TDI)
staff subsequently worked with OPIC on the changes and recommended them to Montemayor. The revisions reflect legislation and TDI actions since the bills of rights were originally adopted in 1993. There are two separate documents: a “Consumer Bill of Rights for Personal Automobile Insurance” and a “Consumer Bill of Rights for Homeowners, Dwelling and Renters Insurance.” Insurance companies are required by law to provide the updated bills of rights to all new customers when they receive their policies. Insurers also must provide the updated bills of rights to all existing customers with their next policy renewals. Updates include additional information about residential property and private passenger auto market assistance programs set up by TDI for policyholders in underserved areas, as well as expanded sections pertaining to consumers’ rights to be informed upon request of reasons for denial, cancellation, or non-renewal of auto or residential policies.

Topics Texas