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Committee approves transparency bill requiring premium-tax breakdowns and dollar deductible amounts
Summary
Senate committee members unanimously passed HB 87 to require insurers to show state and county premium tax amounts on statements and to display wind/hail deductibles as dollar amounts rather than percentages, and heard county officials note current reporting requirements for premium tax spending.
The Senate Committee on Insurance and Labor unanimously passed House Bill 87 (LC521097S), a bill described by sponsors as a consumer-transparency measure that would require clearer premium-tax disclosure on insurance statements and convert percentage wind/hail deductibles into explicit dollar amounts.
The chair explained that the bill’s first part would require insurers to break…
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