The Texas Department of Insurance (TDI) issued an order approving the Texas FAIR Plan Association’s property owners’ association rate filing.
Texas Insurance Code requires the FAIR plan to file proposed rates with the commissioner of insurance. The commissioner may approve or disapprove of the proposed rates. The FAIR plan filed proposed rates with TDI on February 14, 2025, which the commissioner approved on May 15, 2025.
The FAIR plan submitted its initial POA rates to TDI, which adopted commercial property and general liability loss costs and rating factors filed by ISO. They also filed loss cost multipliers of 2.242 for general liability and 4.865 for commercial property to account for their expenses. Finally, they filed a $350 non-refundable policy fee to account for non-refundable fixed expenses in writing policies.
TDI’s actuarial staff reviewed the proposed rates and policy fee and determined that they were actuarially sound and also consistent with the Texas Insurance Code. The commissioner of insurance approved the filing.
The order can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.