Relating to prior approval of certain property and casualty insurance rate increases or decreases.

SB 1643 requires Texas insurers to obtain prior approval from the state insurance department for property and casualty insurance rate changes exceeding 10% (either increases or decreases) for commercial/residential property insurance or commercial/personal auto insurance. This directly affects insurers who must file rate changes with the department, and policyholders who may see slower rate adjustments. The bill establishes a 30-day review period for the department, after which unreviewed rates are automatically approved unless the change is 10% or more. It applies only to policies delivered, issued, or renewed on or after January 1, 2026.