The Texas Department of Insurance issued an order announcing that it has approved the proposed rate filings made by the Texas FAIR Plan Association.
The association submitted rates to TDI, which included an adoption of the most recent commercial property and general liability loss costs and rating factors filed by ISO and an update of its expense modifiers.
TDI staff determined that filed rates were actuarially justified and consistent with Texas Insurance Code. The commissioner of insurance approved the rates.
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.