2021 Texas Statutes
Insurance Code
Title 12 - Other Coverage
Chapter 3502 - Mortgage Guaranty Insurance
Subchapter C. Forms and Rates
Section 3502.101. Rate Filings
Sec. 3502.101. RATE FILINGS. (a) Not later than the 15th day before the date a mortgage guaranty insurer uses a rate or supplementary rate information in this state, the insurer must file the rate and supplementary rate information, and any changes to the rate or supplementary rate information, with the department.
(b) The rate filing must include adequate supporting data, including:
(1) information on:
(A) past and prospective loss experience in this state and outside the state;
(B) catastrophe hazards;
(C) expenses of operation; and
(D) a reasonable margin for profit and contingencies;
(2) an explanation of the insurer's interpretation of any statistical data on which the insurer relied;
(3) an explanation and description of the methods used in making the rates; and
(4) certification by an appropriate official of the insurer relating to the appropriateness of the charges, rates, or rating plans based on reasonable assumptions and accompanied by adequate supporting information.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.
