The Senate Business and Commerce and the House Insurance Committees of the Texas Legislature have requested data from the Texas Department of Insurance related to weather-related property claims, the incidence of lawsuits related to these claims, and the impact this may have on the insurance market place and insurance consumers.
As a result, TDI has developed a draft data call and is seeking public comment.
Public Comment Sought
The department has developed a draft data call to collect information TDI does not already have available through its residential property statistical plan. TDI seeks to have an open discussion with stakeholders and the public regarding the draft data call.
Posted below is a document containing questions TDI believes the answers to which will assist the legislature in their interim charge.
Available on TDI’s website is a draft data call that provides the technical specifications for the data that TDI would need from insurers to help answer these questions.
The list of questions focuses on the data TDI would collect from insurers and does not include questions on market trends for which TDI already has the data.
Notice of Open Discussion Meeting
Commissioner David Mattax will hold an open discussion to receive comments and recommendations from stakeholders and the public regarding the data call. TDI requests that any persons or organizations wishing to provide specific recommendations regarding either document provide written comments no later than Monday, April 11, 2016.
TDI will accept comments on all aspects of these documents, including insurance data that will be useful to the legislature in reviewing its charge, specific data that TDI should collect from insurers to assist the legislature in its charge, the type or size of insurers from which TDI should collect this data, as well as deadlines for insurers to report. All persons wishing to provide written comments must send them to:
Or Brian Ryder
Property and Casualty Actuarial Office, MC 105-5F
Texas Department of Insurance
PO Box 149104
Austin, TX 78714
TDI expects to issue the resulting data call no later than Friday, April 29, 2016, with insurers required to respond no later than Tuesday, July 5, 2016.