Texas Calls For Workers’ Comp And Employers’ Liability Rate Filings For 2012 Public Rate Hearing
Austin, TX (WorkersCompensation.com) - This call for workers’ compensation rate filings applies to all insurance companies subject to Texas Insurance Code, Chapter 2053 and §2051.002 that write workers’ compensation and employers’ liability insurance on a direct basis in Texas. Section 2053.056(a) requires the commissioner of insurance to hold a rate hearing each biennium to review rates to be charged for workers’ compensation insurance in this state. Section 2053.056(b) requires each insurance company subject to Chapter 2053 and §2051.002 to submit its rates, supporting information and supplementary rating information to the commissioner.
This call outlines the required documents that an insurer must submit for rate filings and supplementary rating information. See the online version of the Filings Made Easy Guide for guidance and complete the interactive PDF forms at the Texas Department of Insurance’s website at http://www.tdi.texas.gov/pubs/pc/rspceasy.html. Rate filings must include rate indications based on other than large deductible data. Rate indications at the group level are acceptable if the companies in the group normally make rate filings on a group basis. However, if you provide rate indications at the group level, you must also provide actuarial justification for individual company rate level differences within the group. You should clearly indicate when the rate indications use company specific or group specific data.
In addition to the elements typically used to develop rate indications, this call requests additional data as described in Part 3 of the attached document.
If your company submitted a rate filing that meets the requirements of this call on or after April 1, 2012, and the company wishes to use that filing as its response to this call, provide a reference to that filing. If the filing met some, but not all, of the requirements of this call, provide the additional material in addition to the reference to the previously submitted rate filing. The referenced filing must have been based on other than large deductible experience through December 31, 2011, valued no earlier than December 31, 2011.
Insurance Code §2053.003(b) does not apply to a rate filing under this call if the insurer does not propose any change to its existing rate deviations.
Pursuant to §2053.004, rate filings, including any supporting information filed, are open to public inspection as of the date the filing is made.
Rate filings are due by August 15, 2012. You should mail or deliver them to the Intake Unit at the appropriate address below or submit them via SERFF.
Mail responses to:
Texas Department of Insurance
Property and Casualty Intake Unit
Mail Code 104-3B
P. O. Box 149104
Austin, Texas 78714-9104
Deliver responses to TDI Service Center:
Texas Department of Insurance
Property and Casualty Intake Unit 104-3B
333 Guadalupe Street
William P. Hobby Building, Tower 1, Room 103
Austin, Texas 78701
Insurance companies authorized to write workers’ compensation insurance in Texas that do not currently write workers’ compensation insurance should send a letter or email to Elizabeth Buhro. Further information or questions concerning this bulletin may also be addressed to Elizabeth Buhro in the Property and Casualty Actuarial Office by telephone at 512-475-3017, by email at Elizabeth.Buhro@tdi.state.tx.us, or by mail at P.O. Box 149104, Mail Code 105-5F, Austin, TX 78714-9104.