On April 10, 2018, the FTC announced that its staff sent warning letters to six major companies that market and sell automobiles, cellular devices, and video gaming systems in the United States. The FTC expressed concerns with the companies’ promotional and warranty materials that require consumers to use specified parts
Read More Use It or Lose It?: FTC Warns Companies Against Conditioning Warranty Coverage on Use of Specified Parts or Services
Texas Department of Insurance Warns Against Improper Underwriting After Hurricane Harvey
The Texas Department of Insurance (TDI) has cautioned insurers against improper underwriting activities in the wake of Hurricane Harvey. Specifically, TDI issued Commissioner’s Bulletin # B-0032017 on September 21, 2017, which reminds insurers of certain underwriting laws and regulations applicable to personal automobile and residential property insurance that are particularly
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Texas Service Contract Law Now Permits Key-Fob Replacement
As we previewed here earlier this year, the Texas Legislature passed legislation expressly permitting service contracts regulated by the Texas Department of Licensing and Regulation to include the replacement of a motor vehicle key or key-fob. This new law became effective September 1, 2017. A copy of the new law
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Kent Sullivan Named New Texas Insurance Commissioner
On September 21, 2017, Texas Governor Greg Abbott announced that Kent Sullivan will be the next Texas Insurance Commissioner. Sullivan previously served as First Assistant Attorney General when Abbott served as Texas Attorney General. Sullivan currently practices as an appellate attorney in a Texas law firm. He also previously served
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Uncertainty Surrounds New Texas Insurance Law: Divergent Views Emerge on the Impact of the Texas “Hail Storm Bill” on Hurricane Harvey Claims
As we reported here in May, the Texas Legislature recently passed legislation (House Bill 1774, a copy of which can be found here) which amends Chapter 542 of the Texas Insurance Code—Texas’s general prompt pay statute for insurance claims. Most of the new law’s provisions are aimed at addressing
Read More Uncertainty Surrounds New Texas Insurance Law: Divergent Views Emerge on the Impact of the Texas “Hail Storm Bill” on Hurricane Harvey Claims
Texas Eliminates Enterprise Risk Report Small Insurer Exemption
With the adoption of new legislation supported by the Texas Department of Insurance, Texas has formally eliminated its $300 million minimum premium volume exemption from otherwise required Enterprise Risk Report filings for Texas licensed insurers. Texas now joins other states in requiring the solvency and enterprise risk evaluation filings for
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Texas Legislature Passes Domestic Surplus Lines Insurance Company Legislation
The Texas Legislature has passed legislation authorizing domestic surplus lines insurance companies in Texas, which may lead to an influx of new insurance company applications for licensure and redomestication to Texas applications as insurer groups seek to take advantage of the increasingly liberalized Texas rules governing its surplus lines market.
Read More Texas Legislature Passes Domestic Surplus Lines Insurance Company Legislation
Texas Legislature Amends Prompt Pay Statute for Insurance Claims
The Texas Legislature has passed new legislation that amends key provisions of Texas’s Prompt Pay Statute for insurance claims. Most types of insurance companies writing policies in Texas are required to comply with Texas’s Prompt Pay Statute in Chapter 542 of the Texas Insurance Code, and those that do not
Read More Texas Legislature Amends Prompt Pay Statute for Insurance Claims
Texas Considers Domestic Surplus Lines Insurance Company Legislation
The Texas Legislature is currently considering the authorization of domestic surplus lines insurance companies in Texas. If approved, Texas would join at least 10 other states with similar domestic surplus lines insurance company laws. The proposed legislation is currently working through the Texas House and Senate and appears to be
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Key-Fob Amendment to Texas Service Contract Law Considered by Legislature
The Texas Legislature is considering legislation that would expressly permit service contracts to include the replacement of a motor vehicle key or key-fob. Specifically, Senate Bill 1263 and House Bill 2275 would redefine “service contract” in Texas Occupations Code section 1304.003 to include “the replacement of a motor vehicle key
Read More Key-Fob Amendment to Texas Service Contract Law Considered by Legislature