S.B. No. 945 introduces a new chapter to the Texas Insurance Code, specifically Chapter 806, which addresses the consideration of environmental, social, or political factors by insurers and insurer holding companies. The bill defines "political shareholder proposal" as any proposal that seeks to limit an insurer's ability to insure risks associated with fossil fuel-based energy, requires insurers to track or reduce greenhouse gas emissions, or restricts insurers from insuring entities involved in legal activities aimed at achieving environmental, social, or political goals.

Furthermore, the bill explicitly prohibits insurers and holding companies from including political shareholder proposals in proxy statements or implementing such proposals. This legislation is set to take effect on September 1, 2025, reinforcing the stance that insurers should not be compelled to adopt policies that align with political or social agendas that may conflict with their business operations.

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