Rep. Kenneth Sheets (R-Dallas) has filed legislation aimed at encouraging more private insurers to participate in the Texas homeowners insurance market. HB 930 repeals Subchapter H, Chapter 544, Texas Insurance Code, which restricts an insurer from applying standard underwriting guidelines for water damage claims. The bill also enables claims for losses caused by natural disasters to be made under a standard homeowners, fire, or farm and ranch owners policies and permits an insurer to assess premium surcharges and increase deductibles in accordance with sound actuarial principles. Finally, the bill provides that an insurer may not refuse to renew a policy unless the insured has filed two or more claims under the policy in any three-year period (current law requires three or more claims) and specifies that an insurer may refuse to renew a policy for reasons other than claims history.
Rep. Kenneth Sheets
