HB 1306 Passes Texas House

Apr 24, 2019 | Archive News

The Texas House of Representatives has passed HB 1306, a bill that allows flood insurance to be exported to the surplus lines market. Under the bill, flood coverage issued by an eligible surplus lines insurer with a financial strength rating of A- or better from A.M. Best does not require a diligent effort search.

Rep. John Frullo first introduced the bill on February 1, 2019. It was referred to the House Insurance Committee before it passed 7-0, with 2 members of the Committee not voting. The bill then was laid on the floor of the House on Thursday, April 18, 2019, where it passed without objection.

The bill has now been received in the Senate, where it will be referred to a Senate Committee. If the bill passes, it will be heard before the full Senate.