H.B. No. 2518 amends the Texas Insurance Code to introduce new regulations regarding installment premium payment plans for policies issued by the Texas Windstorm Insurance Association. The bill adds a new subsection (c) to Section 2210.2032, which states that due to the availability of multiple installment payment plans offered directly through the association at no additional cost to the insured, the use of premium financing arrangements is prohibited. This change aims to simplify the payment process for policyholders and ensure they have access to cost-free options.

The provisions of this bill will apply to policies that are issued or renewed on or after January 1, 2026, and the act is set to take effect on September 1, 2025. The bill received significant support in both the House and Senate, passing with a majority vote in each chamber.

Statutes affected:
Introduced: Insurance Code 2210.2032 (Insurance Code 2210)
House Committee Report: Insurance Code 2210.2032 (Insurance Code 2210)
Engrossed: Insurance Code 2210.2032 (Insurance Code 2210)
Senate Committee Report: Insurance Code 2210.2032 (Insurance Code 2210)
Enrolled: Insurance Code 2210.2032 (Insurance Code 2210)