H.B. No. 2067 amends the Texas Insurance Code to enhance the regulations surrounding the declination, cancellation, or nonrenewal of insurance policies. The bill introduces new requirements for insurers, including the obligation to provide written statements detailing the reasons for declination, cancellation, or nonrenewal of insurance policies to applicants or policyholders. Additionally, insurers must submit quarterly reports to the department summarizing these reasons, organized by the zip codes of the affected applicants and policyholders. The bill also mandates that notices of declination for commercial lines of insurance be delivered to the applicant's agent, who is then responsible for informing the applicant.

Furthermore, the bill establishes provisions for electronic delivery of notices and requires that insurers provide written notice of declination specifically for liability and commercial property insurance policies. The changes aim to improve transparency and accountability in the insurance process, ensuring that applicants and policyholders are adequately informed about the decisions made by insurers. The law will take effect on January 1, 2026, and will apply to applications made or policies issued on or after that date.

Statutes affected:
Introduced: Insurance Code 551.001, Insurance Code 551.002, Insurance Code 551.055 (Insurance Code 551)
House Committee Report: Insurance Code 551.001, Insurance Code 551.002, Insurance Code 551.055 (Insurance Code 551)
Engrossed: Insurance Code 551.001, Insurance Code 551.002, Insurance Code 551.055 (Insurance Code 551)
Senate Committee Report: Insurance Code 551.001, Insurance Code 551.002, Subchapter A, Chapter , Insurance Code 551.001, Insurance Code 551.007 (Subchapter A, Chapter , Insurance Code 551, Insurance Code 551)
Enrolled: Insurance Code 551.001, Insurance Code 551.002, Subchapter A, Chapter , Insurance Code 551.001, Insurance Code 551.007 (Subchapter A, Chapter , Insurance Code 551, Insurance Code 551)