The Texas Division of Insurance coverage has prolonged the interval by which latest fee enhance request by the Texas Vehicle Insurance coverage Plan Affiliation (TAIPA) could also be accepted.
TAIPA, the state’s auto insurer of final resort, on Sept. 11, 2019, filed a request for a four.9% enhance in non-public passenger car charges and a four.eight% enhance in business car charges, TDI mentioned. The proposed efficient date for brand spanking new and renewal enterprise is Feb. 1, 2020.
The Commissioner of Insurance coverage will overview the submitting to find out if TAIPA’s proposed charges are simply, affordable, sufficient, not extreme, not confiscatory, and never unfairly discriminatory for the dangers lined. TAIPA’s proposed charges should even be enough to hold all claims to maturity and meet the bills incurred in writing and servicing the enterprise.
The interval by which the submitting have to be accepted or disapproved by 30 days has been prolonged. The submitting should now be accepted or disapproved no later than Nov. 10, 2019.
The speed submitting could also be discovered on-line at www.tdi.texas.gov/guidelines/2018/exrules.html.
To touch upon the speed submitting, ship written feedback by electronic mail to [email protected], or by mail to the Workplace of the Chief Clerk, Mail Code 112-2A, Texas Division of Insurance coverage, P. O. Field 149104, Austin, Texas 78714- 9104.
Hand-delivered feedback have to be directed to the Workplace of the Chief Clerk, Texas Division of Insurance coverage, 333 Guadalupe Road, Austin, Texas 78701, and will be delivered throughout common enterprise hours. Your feedback have to be obtained by 5 p.m. central time on Oct. 18, 2019.
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