The Texas Department of Insurance has published its 2024 Biennial Report (PDF), including recommendations for the 89th Legislature, an overview of potential emerging issues, and a study on windstorm market incentives. A spotlight of the recommendations can be found bellow:
- Require companies to tell consumers why their policy was declined, canceled, or nonrenewed – Amend Insurance Code provisions related to declination, cancellation, and nonrenewal to require all companies to tell consumers why they declined a policy application or why an existing policy was canceled or nonrenewed. This aligns disclosures across policies and increases transparency and consumer knowledge.
- Align fire investigator salaries with other licensed peace officers – Align State Fire Marshal’s Office (SFMO) investigator salaries with other licensed peace officers.
- Improve Fraud Unit’s ability to investigate electronic communications – Amend Texas Code to add a Fraud Unit investigator to the definition of an authorized peace officer. This would give the Fraud Unit the same legal authority to review electronic data as similar state agencies with licensed peace officers.
For more information, see the full report here (PDF).
