The Texas Department of Insurance announced it is seeking public commentary on Article 5.43 and Section 551.107, as amended by the 79th Texas Legislature, regarding claims-based premium increases and decreases.
TDI said the 79th Texas Legislature enacted Senate Bill 14 that, in pertinent part, amended Article 5.43 and Section 551.107 of the Texas Insurance Code. These statutes address the ability of insurers to increase and decrease premiums based on claims made by policyholders. As amended, both statutes authorize the Commissioner to adopt rules as necessary.
The department is seeking public input in order to determine whether such rules are necessary, and if so, the appropriate content of such rules.
The input received will be treated as informal comment, and will not be subject to Government Code provisions regarding the adoption of agency regulations. In the event the department proposes rules under Article 5.43 and/or Section 551.107, such proposals will be officially published in the Texas Register and the public will have an opportunity to make formal public comment.
Written comments should be submitted by 5:00 p.m., Thursday, June 30, 2005, to J’ne Byckovski, Texas Department of Insurance, Property & Casualty Actuarial, Mail Code 105-5F, P.O. Box 149104, Austin, Texas, 78714-9104, or to j’ne.byckovski@tdi.state.tx.us.
Was this article valuable?
Here are more articles you may enjoy.
Ryan Specialty Agrees to Acquire Canadian MGU Stewart Specialty Risk Underwriting 
The Hartford Q3 Net Income Up 41% 
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B 
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports 
