On June 17, 2022, the Texas Supreme Court released an opinion in Hegar v. Health Care Serv. Corp. (No. 21-0080) (Jun 17, 2022) regarding whether the Comptroller properly taxed an insurer based on premiums it received from sales of stop-loss insurance policies under Texas Insurance Code Chapters 222 and 257.
Christopher Martin
Texas Adopts Amendments to Surplus Lines Stamping Office Plan of Operation with Enhanced Department of Insurance Oversight
Kent C. Sullivan, Commissioner of the Texas Department of Insurance (TDI) issued Order No. 2020-6384 on July 3, 2020, approving an amended Plan of Operation of the Surplus Lines Stamping Office of Texas (SLSOT).…
TDI Encourages Midterm Commercial Policy Audits in Response to COVID-19
On April 15, 2020, the Texas Department of Insurance (TDI) issued a bulletin encouraging insurers to conduct midterm premium audits of commercial policies where premiums may need to be adjusted as a result of reduced business operations due to the impact of the COVID-19 pandemic.…
Texas Governor Adopts Executive Order Exempting Insurance Industry Business Travel from Quarantine Restrictions
Texas Governor Gregg Abbott on March 31, 2020, issued Executive Order GA 14 renewing social distancing guidelines in Texas. Of particular significance to the insurance industry, the Governor’s Order adopted U.S. Department of Homeland Security guidance establishing insurance services as “essential services” and classifying members of the insurance industry as federally identified “essential critical infrastructure workers” under the broader heading of “Financial Services.”…
Texas Department of Insurance Posts Extension Schedule for Insurer Financial Filings
The Texas Department of Insurance has posted a bulletin announcing the extension of selected filing deadlines and a modification of filing requirements for reporting insurers.…
Texas Revamps Surplus Lines Regulations
The Texas Commissioner of Insurance has announced the repeal and replacement of provisions Chapter 15 Texas Administrative Code related to the regulation of surplus lines insurance. The proposed new rules were originally published in June, 2018 and have been adopted with modification. According to the December 10, 2018 adopting release,…
Texas Regulators Propose Increased Opportunities for Domestic Captives
The Texas Department of Insurance (TDI) has proposed a new rule and certain amendments to existing rules intended to implement provisions of the Texas Insurance Code that apply to captive insurance companies.
The proposed rule and amendments follow 2015 and 2017 legislative amendments to the Insurance Code, which enacted certain…
TDI to Require Online Applications for Insurance Licenses
Texas Department of Insurance (TDI) has recently announced that it will now require online applications for most individual insurance related licenses.
Paper applications will no longer be accepted if an online license application is available.
Not all applications are web-based. Some license types are still required to be submitted using…
TWIA Issues Substantial Harvey Assessment
The Texas Windstorm insurance Association (TWIA) has announced that its board of directors at its May 8, 2018 meeting approved a $175 million member assessment linked to losses arising from Hurricane Harvey. The assessed amount was reportedly lower than initial TWIA staff estimates.
Additional Harvey related assessments may be issued…
Insurers Brace for a Texas-sized Assessment for FAIR Plan Members
At its recent December 11th meeting in Corpus Christi, Texas, the Governing Committee of the Texas FAIR Plan Association (TFPA) is reported to have approved an assessment for its insurance company members of over $64 million in relation to a currently estimated $90 million gross loss for the TFPA from…