Bill > HB5519

This bill introduces a new regulatory framework for residential property and personal automobile insurance rates in Texas, requiring insurers to file detailed rate information with the state insurance department for any rate changes exceeding 5%. Under the new rules, insurers must submit comprehensive supporting documentation about their financial condition, operational expenses, loss experiences, and investment earnings when proposing rate changes. The Texas insurance commissioner will have 90 days to review and approve or disapprove these rate filings, ensuring that proposed rates are "just, adequate, reasonable, not excessive, and not unfairly discriminatory." The commissioner is granted authority to suspend or revoke rate approvals if an insurer provides false information, experiences significant changes in financial conditions, or fails to meet regulatory requirements. The bill removes previous language that excluded residential property insurance from certain insurance regulations and establishes a more rigorous prior approval process specifically for residential and personal automobile insurance. These new regulations will apply to insurance policies delivered, issued, or renewed on or after January 1, 2026, with the bill itself taking effect on September 1, 2025.

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https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB5519