Texas HB4062 modifies insurance policy form requirements for large risks.

Texas HB4062 amends the Insurance Code to exempt certain large risks from specific policy form requirements. Specifically, it exempts insureds with total insured property values of $20 million or more, total annual gross revenues of $100 million or more, or a total premium of $100,000 or more for property insurance, $100,000 or more for general liability insurance, or $250,000 or more for multiperil insurance. The changes apply to policies delivered, issued for delivery, or renewed on or after January 1, 2026. Policies delivered before January 1, 2026, remain governed by existing law.

Texas HB4062 modifies insurance policy form requirements for large risks.

Texas HB4062 amends the Insurance Code to exempt certain large risks from specific policy form requirements. Specifically, it exempts insureds with total insured property values of $20 million or more, total annual gross revenues of $100 million or more, or a total premium of $100,000 or more for property insurance, $100,000 or more for general liability insurance, or $250,000 or more for multiperil insurance. The changes apply to policies delivered, issued for delivery, or renewed on or after January 1, 2026. Policies delivered before January 1, 2026, remain governed by existing law.