Shown verbatim: the complete text as captured from the official page posted by the Texas Legislature, fetched 2026-08-29. Where this bill amends existing law, language marked for deletion in the official page appears here in brackets. This is the enrolled version. The official bill page.
S.B. No. 455 AN ACT relating to arbitration provisions in certain surplus lines insurance contracts. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 981.101, Insurance Code, is amended by adding Subsections (d) and (e) to read as follows: (d) A surplus lines insurance contract for a risk located wholly in this state and that contains an arbitration agreement must provide that: (1) the arbitration will be: (A) conducted in this state; and (B) governed by the laws of this state; and (2) the insurance contract will be interpreted in accordance with the laws of this state unless: (A) the insurer and policyholder agree to a different venue after the insurer provides written notice to the policyholder of the insurer's request for a different venue; and (B) the insurer provides the policyholder with a premium credit for the costs incurred by the policyholder as a result of the change in venue. (e) Notwithstanding Subsection (d), for surplus lines insurance contracts for over $2 million in insured value, the insurer and policyholder may agree by mutual consent to a different arbitration venue and governance under another state's laws, provided the agreement is in a form. SECTION 2. Sections 981.101(d) and (e), Insurance Code, as added by this Act, apply only to a surplus lines insurance contract delivered, issued for delivery, or renewed on or after January 1, 2026. A surplus lines insurance contract delivered, issued for delivery, or renewed before January 1, 2026, is governed by the law as it existed immediately before the effective date of this Act, and that law is continued in effect for that purpose. SECTION 3. This Act takes effect September 1, 2025. ______________________________ ______________________________ President of the Senate Speaker of the House I hereby certify that S.B. No. 455 passed the Senate on April 10, 2025, by the following vote: Yeas 30, Nays 0; and that the Senate concurred in House amendment on May 14, 2025, by the following vote: Yeas 31, Nays 0. ______________________________ Secretary of the Senate I hereby certify that S.B. No. 455 passed the House, with amendment, on May 10, 2025, by the following vote: Yeas 118, Nays 0, two present not voting. ______________________________ Chief Clerk of the House Approved: ______________________________ Date ______________________________ Governor
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