Bill > SB945

This bill adds a new chapter to the Texas Insurance Code that prohibits insurers and insurance holding companies from including or implementing certain types of "political shareholder proposals" related to fossil fuel industries and environmental considerations. Specifically, the bill defines political shareholder proposals as those seeking to: (1) limit an insurer's ability to insure fossil fuel-related risks, (2) require tracking or reduction of greenhouse gas emissions by the insurer or its insureds, or (3) prevent an insurer from providing insurance to legal entities for environmental, social, or political reasons. Under this legislation, insurers and holding companies organized in Texas would be banned from including such proposals in proxy statements or taking actions to implement them. The bill is set to take effect on September 1, 2025, and appears designed to prevent insurance companies from using shareholder mechanisms to restrict or discourage fossil fuel-related business activities. By creating these restrictions, the bill aims to protect the ability of insurance companies to make business decisions without being constrained by politically motivated shareholder proposals focused on environmental or social issues.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB945