Texas SB455 mandates arbitration in surplus lines insurance contracts to be conducted and governed by Texas state laws.

Texas SB455 amends the Insurance Code to require that any surplus lines insurance contract containing an arbitration agreement must specify that the arbitration will be conducted in Texas and governed by Texas laws. Additionally, the contract must be interpreted according to Texas laws. This change applies to contracts delivered, issued for delivery, or renewed on or after January 1, 2026. Contracts issued before this date remain governed by the laws in effect before the act's effective date. The act takes effect on September 1, 2025.

Texas SB455 mandates arbitration in surplus lines insurance contracts to be conducted and governed by Texas state laws.

Texas SB455 amends the Insurance Code to require that any surplus lines insurance contract containing an arbitration agreement must specify that the arbitration will be conducted in Texas and governed by Texas laws. Additionally, the contract must be interpreted according to Texas laws. This change applies to contracts delivered, issued for delivery, or renewed on or after January 1, 2026. Contracts issued before this date remain governed by the laws in effect before the act's effective date. The act takes effect on September 1, 2025.