DSLI Bill Passes Senate

A bill that will introduce a new designation for insurers has been passed by the Texas Senate. Senate Bill 1491, sponsored by Sen. Judith Zaffirini, would allow surplus lines insurers to be domiciled in the state of Texas. Currently, surplus lines insurers must be domiciled outside the state to write surplus lines coverage.

The Senate voted 30-1 in favor of the bill on Thursday, April 27, 2017. The Senate Business and Commerce Committee passed the bill on Wednesday, April 19, 2017, with a vote of 8-1.

The House of Representatives companion to the bill, House Bill 2492, sponsored by Rep. John Frullo, has made it out of the House Insurance Committee, but has not yet been voted on by the House.