H.B. No. 5519 amends the Texas Insurance Code to establish new regulations for residential property and personal automobile insurance rates. The bill modifies Section 2251.003 by removing references to "residential" and "commercial automobile insurance" and instead includes provisions that explicitly apply to all lines of residential property and personal automobile insurance. Additionally, a new Subsection (d) is added to clarify that these types of insurance are subject to the same regulations as other insurance lines under the specified subchapters.

The bill introduces Subchapter C-1, which outlines the requirements for rate filings and the approval process for rate increases or decreases exceeding 5%. Insurers must file all relevant rate information with the department, and the commissioner has 90 days to approve or disapprove the rates based on compliance with the new regulations. The bill also allows for the amendment, suspension, or revocation of approved rates under certain conditions. The changes will take effect for policies delivered, issued, or renewed on or after January 1, 2026, with the law prior to this amendment continuing to apply to earlier policies. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Insurance Code 2251.003 (Insurance Code 2251)