Originally published by Sean Shaw.
Texas Senate Bill 1060 was passed by the legislature and recently signed into law by the Governor. The changes contained in this law are effective September 1, 2015. For a full copy of the bill click here.
The most important changes mandated by Senate Bill 1060 are as follows:
Amends the Insurance Code to prohibit a licensed public insurance adjuster from entering into a contract with an insured and collecting a commission without the intent to actually perform the services customarily provided by a licensed public insurance adjuster for the insured.
Expands the prohibition against a licensed public insurance adjuster accepting any payment that violates the requirement that all persons paying any proceeds of a policy of insurance or making any payment affecting an insured’s rights under a policy of insurance include the insured as a payee on the payment draft or check and require the written signature and endorsement of the insured on the payment draft or check to include…
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Curated by Texas Bar Today. Follow us on Twitter @texasbartoday.
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