Texas Eliminates Enterprise Risk Report Small Insurer Exemption

With the adoption of new legislation supported by the Texas Department of Insurance, Texas has formally eliminated its $300 million minimum premium volume exemption from otherwise required Enterprise Risk Report filings for Texas licensed insurers.  Texas now joins other states in requiring the solvency and enterprise risk evaluation filings for regulated insurers and their holding companies, irrespective as to size.  A limited exemption for companies with less than $300 million in Texas-only direct and assumed premiums remains in effect.  This change passed both houses of the Texas Legislature, has been signed by the governor, and became effective immediately on May 22, 2017.