Texas Administrative Code

Texas Administrative Code

TITLE 28	INSURANCE
PART 1	TEXAS DEPARTMENT OF INSURANCE
CHAPTER 3	LIFE, ACCIDENT, AND HEALTH INSURANCE AND ANNUITIES
SUBCHAPTER FF	CREDIT LIFE AND CREDIT ACCIDENT AND HEALTH INSURANCE
DIVISION 7	EXPERIENCE CALL
RULE §3.5701	Statistical Data

(a) Insurers writing credit life insurance and accident and health insurance in Texas must keep statistical data related to credit life insurance, credit life experience, and credit disability insurance for a period of no less than five years to enable the Commissioner to determine whether rates are reasonable in relation to the benefits afforded by the various policy contracts together with appropriate expenses. Each such insurer must retain the statistical data relevant to their credit insurance business and provide it to the Commissioner upon request in a format specified by the Commissioner.

(b) The retention of data required by subsection (a) of this section does not replace other annual reports of credit insurance experience. That data is separate and distinct from the NAIC annual statement and from the deviation request permitted by §3.5601 of this title (relating to Deviation by Case Allowed) and is not used in any manner to determine the financial condition of the company.

(c) Copies of all calculations, work papers, and other data used in documenting the credit insurance experience under this section must also be maintained for no less than five years at the home office of the company and be available for examination by the Commissioner.

Source Note: The provisions of this §3.5701 adopted to be effective October 1, 1980, 5 TexReg 2772; amended to be effective June 18, 2003, 28 TexReg 4558; amended to be effective September 2, 2021, 46 TexReg 5438