reglab/housing_qa huggingface dataset:
TX Ins Code § 2210.259 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter F. Property Inspections for Windstorm and Hail Insurance|Section 2210.259. Surcharge for Certain Noncompliant Structures

Sec. 2210.259.  SURCHARGE FOR CERTAIN NONCOMPLIANT STRUCTURES.  (a)  Except as provided by Subsection (a-1), an insurance policy insuring a noncompliant residential structure under Section 2210.251(f) is subject to an annual premium surcharge in an amount equal to 15 percent of the premium for insurance coverage obtained through the association.  The surcharge under this subsection applies to each policy issued or renewed by the association on or after the effective date of Sections 5 through 49, H.B. No. 4409, Acts of the 81st Legislature, Regular Session, 2009, and is due on the issuance or renewal of the policy.(a-1)  For a policy insuring a noncompliant residential structure eligible for coverage under Section 2210.258(c), the association shall charge:(1)  a premium based on the rate charged in the voluntary market for the portion of the canceled or nonrenewed policy that provides windstorm and hail insurance coverage for the applicable risk; and(2)  an annual premium surcharge in an amount equal to  10 percent of that premium.(b)  A premium surcharge collected under this section shall be deposited in the catastrophe reserve trust fund.  A premium surcharge under this section is a separate nonrefundable charge in addition to the premiums collected and is not subject to premium tax or commissions.  Failure to pay the surcharge by a policyholder constitutes failure to pay premium for purposes of policy cancellation.(c)  The commissioner by rule may provide for a discount of, or a credit against, a surcharge assessed under Subsection (a) in instances in which a policyholder demonstrates that the noncompliant structure was constructed with at least one structural building component that complies with the building code standards set forth in the plan of operation.|Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 31, eff. June 19, 2009.Amended by: Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 30, eff. September 28, 2011.Acts 2013, 83rd Leg., R.S., Ch. 1228 (S.B. 1702), Sec. 4, eff. June 14, 2013.|
TX Ins Code § 2210.351 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.351. Association Filings

Sec. 2210.351.  ASSOCIATION FILINGS.  (a)  The association must file with the department each manual of classifications, rules, rates, including condition charges, and each rating plan, and each modification of those items that the association proposes to use.(b)  A filing under this section must indicate the character and the extent of the coverage contemplated and must be accompanied by the policy and endorsement forms proposed to be used.  The forms may be designed specifically for use by the association without regard to other forms filed with, approved by, or prescribed by the department for use in this state.(c)  Except as provided by Subsection (d), as soon as reasonably possible after the filing has been made, the commissioner in writing shall approve or disapprove the filing.  A filing is considered approved unless disapproved on or before the 30th day after the date of the filing.  If the commissioner disapproves a filing, the commissioner shall state in writing the reasons for the disapproval and the criteria the association is required to meet to obtain approval.(d)  The association may use a rate filed by the association without prior commissioner approval if:(1)  the filing is made not later than the 30th day before the date of any use or delivery for use of the rate;(2)  the filed rate does not exceed the rate in effect on the date on which the filing is made; and(3)   the commissioner has not disapproved the filing in writing, advising of the reasons for the disapproval and the criteria the association is required to meet to obtain approval.(e)  The department shall value the loss and loss adjustment expense data to be used for a filing not earlier than March 31 of the year before the year in which the filing is to be made.(f)  The association may not file a rate under this section that exceeds the rate in effect on the date on which the filing is made unless two-thirds of the board of directors votes to approve the rate.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 32, eff. June 19, 2009.Acts 2021, 87th Leg., R.S., Ch. 147 (S.B. 1448), Sec. 1, eff. September 1, 2021.|
TX Ins Code § 2210.3511 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.3511. Public Access to Rate Adequacy Analysis

Sec. 2210.3511.  PUBLIC ACCESS TO RATE ADEQUACY ANALYSIS.  (a)  The association shall make the association's rate adequacy analysis publicly available on its Internet website for at least 14 days before the date the board of directors votes on the submission of a proposed rate filing based on the analysis to the department.  The rate adequacy analysis must include:(1)  all user selected hurricane model input assumptions; and(2)  output data:(A)  with the same content and in the same format that is customarily provided to:(i)  the association by hurricane modelers; and(ii)  the department by the association; and(B)  in a searchable electronic format that allows for efficient analysis and is sufficiently detailed to allow the historical experience in this state to be compared to results produced by the model.(b)  The association shall accept public comment with respect to the association's rate adequacy analysis at a public meeting of the board of directors before the board of directors votes on the submission of a proposed rate filing to the department.|Added by Acts 2019, 86th Leg., R.S., Ch. 525 (S.B. 615), Sec. 13, eff. September 1, 2019.Added by Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 7, eff. June 10, 2019.|
TX Ins Code § 2210.3512 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.3512. Requirement for Vote on Rate Filing

Sec. 2210.3512.  REQUIREMENT FOR VOTE ON RATE FILING.  The board of directors may not vote on a proposed rate increase if:(1)  there is a vacancy on the board; and(2)  the vacancy has existed for at least 60 days at the time the vote is to be taken.|Added by Acts 2021, 87th Leg., R.S., Ch. 639 (H.B. 769), Sec. 1, eff. September 1, 2021.|
TX Ins Code § 2210.354 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.354. Manual Rate Filings: Additional Supporting Information

Sec. 2210.354.  MANUAL RATE FILINGS:  ADDITIONAL SUPPORTING INFORMATION.  (a)  In conjunction with the review of a filing under Section 2210.352, other than a filing made under Subsection (a-1) of that section:(1)  the commissioner may request the association to provide additional supporting information relating to the filing; and(2)  any interested person may file a written request with the commissioner, during a period specified by the commissioner by rule, for additional supporting information relating to the filing.(b)  A request under this section must be reasonable and must be directly related to the filing.(c)  The commissioner shall submit to the association all requests for additional supporting information made under this section for the commissioner's use and the use of any interested person not later than the 21st day after the date of receipt of the filing.(d)  Unless a different period is requested by the association and approved by the commissioner, the association shall provide the information to the commissioner not later than the fifth day after the date the written request for additional supporting information is delivered to the association. |Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 35, eff. June 19, 2009.|
TX Ins Code § 2210.357 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.357. Rate Classifications

Sec. 2210.357.  RATE CLASSIFICATIONS.  All premiums written and losses paid under this chapter, as appropriate, must be included in applicable classifications for general ratemaking purposes.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.|
TX Ins Code § 2210.358 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.358. Experience Data

Sec. 2210.358.  EXPERIENCE DATA.  (a)  Not later than June 1 of each year, the department shall provide to the association and other interested persons the experience data to be used in establishing the rates under this subchapter in that year.(b)  On request from the department, an insurer shall provide the data to the department or the department may obtain the data from a designated statistical agent, as defined by Section 38.201.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.|
TX Ins Code § 2210.359 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.359. Limitation on Certain Rate Changes

Sec. 2210.359.  LIMITATION ON CERTAIN RATE CHANGES.  (a)  Except as otherwise provided by this subsection, a rate approved by the commissioner under this subchapter may not reflect an average rate change that is more than 10 percent higher or lower than the rate for commercial windstorm and hail insurance or 10 percent higher or lower than the rate for noncommercial windstorm and hail insurance in effect on the date the filing is made.  The rate may not reflect a rate change for an individual rating class that is 15 percent higher or lower than the rate for that individual rating class in effect on the date the filing is made.  This subsection does not apply to a rate filed under Sections 2210.351(a)-(d).(b)  The commissioner may, after notice and hearing, suspend this section on a finding that a catastrophe loss or series of occurrences resulting in losses in the catastrophe area justify a need to ensure:(1)  rate adequacy in the catastrophe area; and(2)  availability of insurance outside the catastrophe area.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.0631, eff. September 1, 2007.Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.0631, eff. September 1, 2007.|
TX Ins Code § 2210.361 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.361. Association Recommendations Regarding Reductions in Coverages or Increases in Deductibles

Sec. 2210.361.  ASSOCIATION RECOMMENDATIONS REGARDING REDUCTIONS IN COVERAGES OR INCREASES IN DEDUCTIBLES.  (a)  The association may make recommendations to the commissioner that would result in a reduction of coverages or an increase in an applicable deductible if the resultant reduction in coverages or increase in deductibles is accompanied by proposed rate credits.(b)  After notice and hearing, the commissioner may accept or reject a recommendation made by the association under this section. |Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 37, eff. June 19, 2009.|
TX Ins Code § 2210.362 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.362. Implied Consent by Applicant for Insurance Coverage

Sec. 2210.362.  IMPLIED CONSENT BY APPLICANT FOR INSURANCE COVERAGE.  For purposes of this chapter, an applicant for insurance coverage is considered to have consented to the appropriate rates and classifications authorized by this chapter regardless of any other rates or classifications.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.|
TX Ins Code § 2210.363 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter H. Rates; Discounts and Credits|Section 2210.363. Premium Discounts; Surcharge Credits

Sec. 2210.363.  PREMIUM DISCOUNTS; SURCHARGE CREDITS.  (a)  The association may offer a person insured under this chapter an actuarially justified premium discount on a policy issued by the association, or an actuarially justified credit against a surcharge assessed against the person, other than a surcharge assessed under Subchapter M, if:(1)  the construction, alteration, remodeling, enlargement, or repair of, or an addition to, insurable property exceeds applicable building code standards set forth in the plan of operation; or(2)  the person elects to purchase a binding arbitration endorsement under Section 2210.554.(b)  A premium discount or a credit against a surcharge under Subsection (a)(2) may not exceed 10 percent of the premium for the policy, before the application of the discount.(c)  The commissioner shall adopt rules necessary to implement and enforce this section, including rules defining "actuarially justified" for the purposes of this section.|Added by Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 34, eff. September 28, 2011.|
TX Ins Code § 2210.451 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter J. Catastrophe Reserve Trust Fund; Reinsurance and Alternative Risk Financing|Section 2210.451. Definition

Sec. 2210.451.  DEFINITION.  In this subchapter, "trust fund" means the catastrophe reserve trust fund.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.|
TX Ins Code § 2210.452 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter J. Catastrophe Reserve Trust Fund; Reinsurance and Alternative Risk Financing|Section 2210.452. Establishment and Use of Trust Fund

Sec. 2210.452.  ESTABLISHMENT AND USE OF TRUST FUND.  (a)  The commissioner shall adopt rules under which the association makes payments to the catastrophe reserve trust fund.  Except as otherwise specifically provided by this section, the trust fund may be used only for purposes directly related to funding the payment of insured losses, including:(1)  funding the obligations of the trust fund under Subchapter B-1; and(2)  purchasing reinsurance or using alternative risk financing mechanisms under Section 2210.453.(b)  All money, including investment income, deposited in the trust fund constitutes state funds until disbursed as provided by this chapter and commissioner rules.  The comptroller shall hold the money outside the state treasury on behalf of, and with legal title in, the department.  The department shall keep and maintain the trust fund in accordance with this chapter and commissioner rules.  The comptroller, as custodian of the trust fund, shall administer the trust fund strictly and solely as provided by this chapter and commissioner rules.(c)  At the end of each calendar year or policy year, the association shall use the net gain from operations of the association, including all premium and other revenue of the association in excess of incurred losses, operating expenses, public security obligations, and public security administrative expenses, to make payments to the trust fund, procure reinsurance, or use alternative risk financing mechanisms, or to make payments to the trust fund and procure reinsurance or use alternative risk financing mechanisms.(d)  The commissioner by rule shall establish the procedure relating to the disbursement of money from the trust fund to policyholders and for association administrative expenses directly related to funding the payment of insured losses in the event of an occurrence or series of occurrences within a catastrophe area that results in a disbursement under Subchapter B-1.(e)  The trust fund may be terminated only by law.  On termination of the trust fund, all assets of the trust fund revert to the state to provide funding for the mitigation and preparedness plan established under Section 2210.454.(f)  The commissioner by rule shall establish the procedure relating to the disbursement of money from the trust fund to pay for operating expenses, including reinsurance or alternative risk financing mechanisms under Section 2210.453, if the association does not have sufficient premium and other revenue.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 38, eff. June 19, 2009.Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 35, eff. September 28, 2011.Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 18, eff. September 1, 2015.|
TX Ins Code § 2210.4521 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter J. Catastrophe Reserve Trust Fund; Reinsurance and Alternative Risk Financing|Section 2210.4521. Investment of Trust Fund Balances

Sec. 2210.4521.  INVESTMENT OF TRUST FUND BALANCES.  (a)  The comptroller shall invest in accordance with the investment standard described by Section 404.024(j), Government Code, the portion of the trust fund balance that exceeds the amount of the sufficient balance determined under Subsection (b).  The comptroller's investment of that portion of the balance is not subject to any other limitation or other requirement provided by Section 404.024, Government Code.(b)  At least once each 12-month period, the board of directors shall determine a balance for the trust fund that the board considers to be sufficient to meet the cash flow requirements of the fund in funding the payment of insured losses as provided by Section 2210.452(a).  After determining that sufficient balance, the board shall provide notice of the sufficient balance to the comptroller.(c)  Not later than the 30th day after the date the board of directors provides notice of the sufficient balance determined under Subsection (b), the comptroller shall adjust the investment portfolio of trust fund money to ensure that only the portion of the fund that exceeds the sufficient balance is invested as required by Subsection (a).(d)  The comptroller shall include the fair market value of the investment portfolio of the trust fund in calculating the amount in the fund for purposes of this chapter.|Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 19, eff. September 1, 2015.|
TX Ins Code § 2210.453 (2021)
2021 Texas Statutes|Insurance Code|Title 10 - Property and Casualty Insurance|Subtitle G - Pools, Groups, Plans, and Self-Insurance|Chapter 2210 - Texas Windstorm Insurance Association|Subchapter J. Catastrophe Reserve Trust Fund; Reinsurance and Alternative Risk Financing|Section 2210.453. Funding Levels; Reinsurance and Alternative Risk Financing Mechanisms; Reinsurance From Certain Insurer or Broker Prohibited

Sec. 2210.453.  FUNDING LEVELS; REINSURANCE AND ALTERNATIVE RISK FINANCING MECHANISMS; REINSURANCE FROM CERTAIN INSURER OR BROKER PROHIBITED.  (a)  The association may purchase reinsurance or use alternative risk financing mechanisms or both as necessary.(b)  The association shall maintain total available loss funding in an amount not less than the probable maximum loss for the association for a catastrophe year with a probability of one in 100.  If necessary, the required funding level shall be achieved through the purchase of reinsurance or the use of alternative financing mechanisms, or both, to operate in addition to or in concert with the trust fund, public securities, financial instruments, and assessments authorized by this chapter.(c)  The attachment point for reinsurance purchased under this section may not be less than the aggregate amount of all funding available to the association under Subchapter B-1.(d)  The cost of the reinsurance purchased or alternative financing mechanisms used under this section in excess of the minimum funding level required by Subsection (b) shall be paid by assessments as provided by this subsection. The association, with the approval of the commissioner, shall notify each member of the association of the amount of the member's assessment under this subsection. The proportion of the cost to each insurer under this subsection shall be determined in the manner used to determine each insurer's participation in the association for the year under Section 2210.052.(e)  A member of the association may not recoup an assessment paid under Subsection (d) through a premium surcharge or tax credit.(f)  The association may not purchase reinsurance under this section from an insurer or broker involved in the execution of a catastrophe model on which the association relies in:(1)  determining the probable maximum loss applicable for the period covered by the reinsurance; or(2)  adopting rates under Section 2210.355.|Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 39, eff. June 19, 2009.Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 36, eff. September 28, 2011.Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 20, eff. September 1, 2015.Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 8, eff. June 10, 2019.Acts 2021, 87th Leg., R.S., Ch. 639 (H.B. 769), Sec. 2, eff. September 1, 2021.Acts 2021, 87th Leg., R.S., Ch. 639 (H.B. 769), Sec. 3, eff. September 1, 2021.|