Texas HB3388 amends insurance policy regulations for group property and casualty insurance.

Texas HB3388 amends the Insurance Code to revise regulations for group property and casualty insurance policies. It allows insurers to provide personal lines property and casualty insurance policies to groups of 10 or more insureds, provided the policy results in economies of scale and the benefits are reasonable relative to premiums. The policy must not contain a shared aggregate limit. Insurers must provide certain disclosures to applicants and deliver policy documents to covered members. The commissioner can adopt rules to implement and administer these provisions.

Texas HB3388 amends insurance policy regulations for group property and casualty insurance.

Texas HB3388 amends the Insurance Code to revise regulations for group property and casualty insurance policies. It allows insurers to provide personal lines property and casualty insurance policies to groups of 10 or more insureds, provided the policy results in economies of scale and the benefits are reasonable relative to premiums. The policy must not contain a shared aggregate limit. Insurers must provide certain disclosures to applicants and deliver policy documents to covered members. The commissioner can adopt rules to implement and administer these provisions.