| (C) An insurer shall issue a premium quote as specified in paragraph (3) of this subsection. (3) Issuance of premium quote. Insurers shall issue premium quotes in accordance with the following provisions: (A) An insurer shall send its quote directly to the MAP applicant and simultaneously report the required information as specified in subparagraph (C) of this paragraph to the Department by mail or facsimile transmission. (B) An insurer's quote shall be valid for at least 30 days after the date the quote is issued. Within 35 days after issuance of the quote, the insurer shall notify the Department's MAP Division by mail or facsimile transmission that the quote has been accepted or rejected by the applicant. If an applicant has not affirmatively rejected the quote by the thirty-first day after the quote is issued, the insurer shall notify the Department's MAP Division by mail or facsimile transmission that the quote has been rejected. (C) An insurer's quote shall contain the following information: (i) name and address of MAP applicant; (ii) MAP application TDI reference number; (iii) location of the residential risk to be insured; (iv) insurer's name, mailing address, and phone number; (v) type of policy being quoted; (vi) the amount of premium due for the policy quoted, limits of liability, applicable deductible, and term of the policy; (vii) issuance date and expiration date of the quote; (viii) instructions for the applicant to contact the issuing agent to accept the offered quote; (ix) issuing agent's name, mailing address, phone number, and fax number. (4) Notification of issuance of policy. If the application was submitted by an originating agent, within five business days after the issuance date of the insurance policy, the insurer shall notify the Department by mail or facsimile transmission and the originating agent in writing or via electronic means that the insurance policy was issued. The notification shall include the policy number and the name, address, telephone number, and fax number of the issuing agent. (5) Inactive application. An application shall be considered inactive upon acceptance of a quote by the applicant. (e) MAP data collection and analysis. (1) The Department shall provide quarterly data analysis reports to the Executive Committee to enable the Executive Committee to fully evaluate the operations of the MAP. (2) Upon the Executive Committee's request, the Department shall provide additional data and analyses of data for purposes of review of the MAP or for other purposes related to the administration of the MAP as deemed appropriate by the Executive Committee. (f) Educational initiatives. (1) The Department may provide educational information to consumers, agents, and insurers through: (A) the development and distribution of educational materials outlining the operation of the MAP; (B) seminars and workshops; (C) the print and electronic media, including public service announcements, press releases, TV and radio community programs, and local TV access stations. (D) coordination of speaking and training programs with trade associations and consumer organizations; and (E) use of the Internet System. (2) Participating insurers may provide information to their appointed agents for distribution to consumers. (3) Participating insurers may include a brief description of the MAP with any cancellation or non-renewal notice issued on residential property insurance located in a designated underserved area. (g) Complaints procedures. (1) Complaints relating to the operation of the MAP shall be received and processed by the Department's MAP Division. (2) The complaints shall be handled in accordance with the Department's standard complaints handling procedures. (3) Until final disposition of the complaint, the complainant shall be notified quarterly by the Department's MAP Division of the status of the complaint. (4) The MAP Executive Committee shall be notified as part of its review and monitoring of the MAP of all complaints relating to the operation of the MAP. |
| Source Note: The provisions of this §5.9409 adopted to be effective October 1, 1996, 21 TexReg 8715; amended to be effective August 1, 1998, 23 TexReg 7587; transferred effective April 16, 1999, 24 TexReg 3092; amended to be effective June 26, 2000, 25 TexReg 6144 |
