TX HB5519

Requires insurers to file rates with the Texas Department of Insurance for prior approval when residential property or personal automobile insurance rates increase or decrease by more than 5% from the previously filed rate

Mandates the Insurance Commissioner approve or disapprove filed rates within 90 days, with the possibility of one 90-day extension for good cause; rates cannot take effect until approved

Establishes criteria for rate approval, requiring premiums to be just, adequate, reasonable, not excessive, and not unfairly discriminatory based on the insurer's financial condition, operating expenses, loss experience, and investment earnings

Removes residential property insurance and personal automobile insurance from the current regulatory framework that applies to commercial lines, subjecting them instead to the new prior approval requirements

Allows the Commissioner to suspend or revoke approved rates if filings contain false information, don't meet requirements, or if material changes occur in the insurer's financial condition, losses, expenses, or investment earnings

Applies to insurance policies delivered, issued, or renewed on or after January 1, 2026, with an effective date of September 1, 2025