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National Association of Insurance Commissioners (NAIC) 2021 Fall Meeting Summary
Category: Insurance Regulatory
The Mitchell Williams Insurance Regulatory team of lawyers attended the National Association of Insurance Commissioners (NAIC) 2021 Fall National Meeting which was held December 11-16. The Hybrid-Format Meeting had a robust agenda. Committees addressed a number of national topics including…
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The Texas Department of Insurance Adopts New Reinsurance Rules
Category: Insurance Regulatory
The Texas Department of Insurance has taken the next step in implementing the Covered Agreement requirement by adopting rules relating to reciprocal reinsurers with the effective date of the rule on January 1, 2022. S.B. 1689 which adds the reciprocal reinsurer provisions to Texas law will become…
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New Mandatory Data Call for Texas-Licensed P&C Insurers
Category: Insurance Regulatory
On September 7, 2021, the Texas Department of Insurance (“TDI”) issued a mandatory data call to collect information about “disallowed expenses.” Disallowed expenses are certain administrative, operating, and other expenses incurred by an insurer that cannot be factored into the insurer’s rates, and…
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Insurers Are No Longer Required to File Rates and Forms for Certain Commercial Risks in Texas
Category: Insurance Regulatory
On September 1, 2021, Texas SB 1367 went into effect, exempting certain lines of commercial property and casualty insurance from rate and form filings, as summarized below. In other words, Insurers are no longer required to file rates and forms with TDI for certain commercial risks. Please note…
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LEGAL ALERT: Big Licensing Changes for Texas Insurance Professionals
Category: Insurance Regulatory
On September 1, 2021, Texas HB 4030 went into effect, bringing with it several significant changes for Texas licensed (resident and non-resident) insurance professionals. As summarized below, HB 4030 implements several changes to the Texas Insurance Code. The changes affect subagent designations…
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