A bill filed by state Rep. Todd Hunter, R-Corpus Christi, would require the Texas Department of Insurance to post on its website information regarding insurance rates of every residential property and personal auto insurer in the state, including details and justifications for rate increases.
HB 2175 states: “The department, in conjunction with the office of public insurance counsel, shall establish and maintain a single Internet website that provides information to enable consumers to make informed decisions relating to the purchase of residential property insurance and personal automobile insurance.”
Under the provisions of the bill, the website should include a description of each type of residential and personal automobile insurance policy issued in Texas, “including a comparison of the coverage, exclusions, and restrictions of each policy that allows a side-by-side comparison of the features of the policy forms.”
It also would include listings of each residential and personal auto insurer, along with each insurer’s contact information.
The website also would be required to include an “indication of whether the insurer uses credit scoring in underwriting, rating, or tiering, and a link to the insurer’s credit model or a link explaining how to request the insurer’s credit model.”
HB 2175 would also require the department to be reauthorized every four years through the sunset process. The insurance commissioner would also be required to justify new hires and identify those who meet with the department’s top administrators.
Topics Texas Legislation Personal Auto
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