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