The Texas Department of Insurance (“TDI”) has proposed amendments to 28 Texas Administrative Code sections 7.83 and 7.84, which govern the appeal of and frequency of TDI examinations. These amendments address changes to Texas Insurance Code section 401.052 and Chapter 964 of the Texas Insurance Code resulting from prior legislation. The proposed amendments include the following proposed changes: (a) captive insurers would be excluded from the financial examination requirement otherwise imposed within the first five years of any entity being organized or redomesticated in the state of Texas; (b) the appeal process created by 28 TX ADC 7.83 would apply to all entities examined under the Insurance Code except for those that are subject to another other examination appeals processes under the Code; (c) the term “Appeal,” levels of appeal, and the form of a request for an appeal would be clarified. A full copy of the proposed changes along with TDI’s rationale for these proposed amendments is available here.
All comments and public hearing requests to these proposed amendments are due November 19, 2018 at 5:00 p.m. CST to the Office of the Chief Clerk, Mail Code 113-2A, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104 or firstname.lastname@example.org.
The post Texas Department of Insurance Proposes Amendments to Examination Rules appeared first on Texas Regulatory Update.
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