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IntroducedFeb 06, 2025
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Passed House
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Passed Senate
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Signed into Law
Court Judgment Interest Rates and Insurance Reports and Practices; Revises calculation that CFO performs to set rate of interest payable on judgments or decrees; requires OIR to create specified reports on insurance-related entities & compensation of executive officers for insurers, licensees, & registrants; revises factors office must consider in determining whether insurance rate is excessive, inadequate, or unfairly discriminatory; requires property insurers to send policyholders written estimate of amount of loss; specifies certain requirements for insurers when creating & sending such estimates; prohibits insureds & insurers from waiving such requirements; revises manner in which property insurer must respond to notice to initiate litigation; requires claimant & property insurer to participate in mandatory mediation; requires court to determine attorney fees in specified manner for cases arising from property insurance dispute; requires property insurers to disclose to policyholders dollar amount of credit or premium discount for mandatory binding arbitration endorsement.
Last Action See all actions
House • Feb 19, 2025: Now in Insurance & Banking Subcommittee
Latest Bill Text See all bill texts
Summary/Bill Text
Comments on HB 451
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Actions
- Feb 19, 2025 | House
- Referred to Insurance & Banking Subcommittee
- Referred to Civil Justice & Claims Subcommittee
- Referred to Commerce Committee
- Now in Insurance & Banking Subcommittee
- Feb 06, 2025 | House
- Filed
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