HBA-MSH, AMW H.B. 184 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 184 By: Burnam Insurance 2/9/2001 Introduced BACKGROUND AND PURPOSE Under current law, the commissioner of insurance sets benchmark rates and rate ranges for regulated homeowners insurance companies. Lloyd's plans are exempt from homeowners insurance rate regulation. The majority of homeowners policies in Texas are sold through companies that are exempt from such rate regulation. House Bill 184 requires Lloyd's plan insurers to file rates, supporting information, and rating information with the commissioner of insurance. RULEMAKING AUTHORITY It is the opinion of the House Office of Bill Analysis that rulemaking authority is expressly delegated to the commissioner of insurance in SECTION 1 (Section 3, Article 18.17, Insurance Code) and SECTION 3 of this bill. ANALYSIS House Bill 184 amends the Insurance Code to require Lloyd's plan insurers to file quarterly with the commissioner of insurance the rates for insurance issued by the insurer that covers risks written in this state and supplementary rating information and reasonable and pertinent supporting information relating to those rates. The bill designates the information filed as public information to be available on request to any member of the public. The bill authorizes the commissioner of insurance to adopt the necessary rules to implement these provisions not later than December 15, 2001. The bill also provides that Lloyd's plan insurers are not required to comply with these provisions before January 1, 2002. EFFECTIVE DATE September 1, 2001.