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CS/HB 533 — Unfair Insurance Trade Practices

by Insurance and Banking Subcommittee and Rep. Hager and others (CS/SB 756 by Rules Committee and Senator Grimsley)

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Banking and Insurance Committee (BI)

The bill creates an exemption from the Unfair Insurance Trade Practices Act that allows an admitted insurer to refuse to insure a person for failure to purchase motor vehicle services from a membership organization that, as of January 1, 2018, is affiliated with the admitted property and casualty insurer.

If approved by the Governor, these provisions take effect July 1, 2018.

Vote: Senate 38-0; House 102-0