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TITLE 28INSURANCE
PART 1TEXAS DEPARTMENT OF INSURANCE
CHAPTER 5PROPERTY AND CASUALTY INSURANCE
SUBCHAPTER ETEXAS WINDSTORM INSURANCE ASSOCIATION
DIVISION 3LOSS FUNDING, INCLUDING CATASTROPHE RESERVE TRUST FUND, FINANCING ARRANGEMENTS, AND PUBLIC SECURITIES
RULE §5.4191Premium Surcharge Reconciliation Report

(a) This section does not apply to an insurer that, during an applicable calendar year, exclusively wrote any or all of the following lines of insurance: federal flood insurance; medical malpractice insurance; accident and health insurance; workers' compensation insurance, or surety.

(b) Upon the written request of the department, an insurer shall provide the department with a premium surcharge reconciliation report for the year specified by the department in its request.

(c) Reconciliation reports shall be provided to the department within 10 working days after the date the request is received by the insurer.

(d) Reconciliation reports shall consist of the following information concerning premiums written and surcharges collected, separately for each applicable surcharge period, including periods in which no premium surcharges were in effect, within the specified year:

  (1) premium written at policy issuance for policies effective within the year, including anniversary dates within the year on multi-year policies, separately for:

    (A) premium subject to a premium surcharge, including premium allocated to the catastrophe area on policies having premises, operations, or insured property both in and outside of the catastrophe area; and

    (B) premium not subject to a premium surcharge, including premium not allocated to the catastrophe area on policies having premises, operations, or insured property both in and outside of the catastrophe area; and

  (2) premium written due to mid-term coverage changes occurring within the specified time period separately for:

    (A) premium increases subject to a premium surcharge, including premium allocated to the catastrophe area on policies having premises, operations, or insured property both in and outside of the catastrophe area; and

    (B) premium not subject to a premium surcharge, including premium increases not allocated to the catastrophe area on policies having premises, operations, or insured property both in and outside of the catastrophe area and premium refunds, whether related to coverage within or without the catastrophe area; and

  (3) total premium due to post-term premium changes occurring within the specified time period, including adjustments due to premium or exposure audits, retrospective rating adjustments, or other similar adjustments that occur after policy expiration, separately for:

    (A) premium subject to a premium surcharge, including premium allocated to the catastrophe area on policies having premises, operations, or insured property both in and outside of the catastrophe area; and

    (B) premium not subject to a premium surcharge, including premium not allocated to the catastrophe area on policies having premises, operations, or insured property both in and outside of the catastrophe area; and

  (4) separately for paragraphs (1)(A), (2)(A), and (3)(A) of this subsection, the amounts of premium surcharges collected; and

  (5) the total amount of written premium for policies written in the State of Texas as reported in the Annual Statement, Exhibit of Premiums and Losses (Statutory Page 14), Texas.

(e) Nothing in this section limits the department's authority to obtain information from insurers under the Insurance Code.

(f) A report provided to the department under this section may be provided to the Association.


Source Note: The provisions of this §5.4191 adopted to be effective February 16, 2011, 36 TexReg 784

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