Property Insurance Reform Bill Clears Texas Senate Panel

Law360, New York (February 7, 2013, 4:39 PM EST) -- A Texas Senate committee on Wednesday approved a residential property insurance reform bill that would force all carriers in the state to provide prospective policyholders with a single-page explanation of every deductible included in the plan as well as their exact dollar amounts.

The proposed legislation, which amends the Texas insurance code to add a declaration page requirement for residential property policies, received unanimous support from the eight members of the business and commerce committee and now moves on to the Senate floor.

Democrat Eddie Lucio...
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