Texas Insurance Code

§ 551.107 — RENEWAL OF CERTAIN POLICIES; PREMIUM SURCHARGE AUTHORIZED; NOTICE

IN § 551.107Title 5. PROTECTION OF CONSUMER INTERESTS · Part C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES · Ch. 551. PRACTICES RELATING TO DECLINATION, CANCELLATION, AND NONRENEWAL OF INSURANCE POLICIES · Art. C. DECLINATION, CANCELLATION, AND NONRENEWAL OF

Statute text

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(a)This section applies only to a standard fire, homeowners, or farm or ranch owners insurance policy.

(b)A claim under this section does not include a claim:

(1)resulting from a loss caused by natural causes;

(2)that is filed but is not paid or payable under the policy; or

(3)that an insurer is prohibited from using under Section 544.353.

(c)An insurer may assess a premium surcharge at the time an insurance policy is renewed if the insured has filed two or more claims in the preceding three policy years. The amount of the surcharge must be based on sound actuarial principles.

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Legislative history

Acts 2005, 79th Leg., Ch. 291 (S.B. 14), Sec. 5, eff. September 1, 2005. Acts 2007, 80th Leg., R.S., Ch. 252 (S.B. 978), Sec. 1, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2D.013, eff. April 1, 2009.