TX SB1643

Requires insurers to file for commissioner approval before implementing rate changes exceeding 10% (increase or decrease) for commercial/residential property insurance and commercial/personal automobile insurance

Maintains the insurer's existing rate during the period between filing and approval of the new rate

Lowers the automatic approval threshold from 12.5% to 10% — rate increases of 10% or more that are not approved or disapproved within 30 days will no longer be automatically approved

Allows insurers to use subsequently filed rates without prior approval only if the rate does not exceed 107.5% of the commissioner-approved rate or 110% of any rate used in the previous 12 months

Applies to insurance policies delivered, issued, or renewed on or after January 1, 2026, with the act taking effect September 1, 2025