HBA-MSH, TBM H.B. 1343 77(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 1343
By: Eiland
Insurance
2/25/2001
Introduced



BACKGROUND AND PURPOSE 

Businesses that offer credit insurance, rental car insurance, travel
insurance, or self-storage facility insurance are authorized to obtain
specialty licenses to provide point of sale insurance coverage. Rental
property owners and property management firms cannot obtain specialty
licenses to provide renters insurance to their residents.  House Bill 1343
provides for the issuance of a specialty license to rental property owners
and property management firms to offer renters insurance to residents. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency or institution. 

ANALYSIS

House Bill 1343 amends the Insurance Code to authorize the commissioner of
insurance to issue a specialty license to a residential landlord or to the
property manager of a residential landlord to act as an agent for any
authorized insurer only for limited purposes.  The bill prohibits insurance
from being issued unless brochures or other written materials containing
the required disclosures pertaining to the insurance are prominently
displayed and readily available to the prospective purchaser of the
insurance coverage. 

EFFECTIVE DATE

September 1, 2001, and a residential landlord or property manager for a
residential landlord is not required to be licensed before January 1, 2002.