Legislation clarifying that eligible surplus lines insurers can provide windstorm and hail insurance, despite available coverage from the Texas Windstorm Insurance Association (TWIA), has moved forward in the Texas legislature, the Surplus Lines Stamping Office of Texas (SLTX) reported.
The House Committee on Insurance first discussed HB 1940 in a public hearing on March 19. The bill was left pending at the time. It was reconsidered on March 26 and the committee voted to report the bill favorably without amendments with a vote of 8-0. One member was absent.
The identical Senate companion bill, SB 2444, was read for the first time on the Senate floor on Wednesday, March 27, 2019, before being referred to the Senate Business and Commerce Committee.
Source: SLTX
Topics Catastrophe Natural Disasters Texas Excess Surplus Windstorm
Was this article valuable?
Here are more articles you may enjoy.
Florida Jury Returns $779M Verdict for Family of Security Guard Killed at Gambling Cafe 
Acrisure CEO Greg Williams Makes $400M Commitment to Michigan State University 
Brookfield Targets Global Dominance in P/C Insurance Coverage 
Hartford: 10-Year Analysis Shows Shifts in Common, Expensive Small-Business Claims 
