SECTION 5.9981. Rating Practices

(a) The commissioner may order an insurer to file with the department for the commissioner's approval all rates, supplementary rating information, and any supporting information for a rating practice if the commissioner has disapproved a rate by order because:

(1) an insurer filed a rate that was found to be excessive, inadequate, unreasonable, or unfairly discriminatory for the risks to which the rates applied in violation of Insurance Code §2251.052; or

(2) the insurer has repetitively used rates that differ from the rates filed under Insurance Code §2251.101.

(b) The commissioner will periodically assess whether the rating practices that subjected the insurer to this section continue to exist. If the conditions no longer exist, the commissioner will issue an order excusing the insurer from prior approval.

Source Note: The provisions of this §5.9981 adopted to be effective December 10, 2013, 38 TexReg 8904