| (a) This section applies to an insurer that, during
the calendar year, wrote any of the following types of insurance:
commercial fire; commercial allied lines; farm and ranch owners; residential
property insurance; commercial multiple peril (nonliability portion);
private passenger automobile no fault (personal injury protection
(PIP)); other private passenger automobile liability; private passenger
automobile physical damage; commercial automobile no fault (PIP);
other commercial automobile liability; or commercial automobile physical
damage.
(b) No later than 90 days following the end of a calendar
year in which an association surcharge was in effect, the association
must provide the department with an annual premium surcharge report
for the calendar year.
(c) No later than 90 days following the end of a calendar
year in which a contingent surcharge was in effect, each insurer must
provide the association with an annual premium surcharge report for
the calendar year unless contingent surcharges were in effect for
less than 45 days within the calendar year.
(d) Annual premium surcharge reports must provide information
for each insurance company writing property or casualty insurance
in the State of Texas, including affiliated surplus lines insurers,
and affiliated insurers not authorized to engage in the business of
insurance that issued independently procured insurance policies covering
insured property in the State of Texas.
(e) Annual premium surcharge reports must provide information
for the following annual statement lines of business: fire; allied
lines; farmowners multiple peril; homeowners multiple peril; commercial
multiple peril (nonliability portion); private passenger automobile
no fault (PIP); other private passenger automobile liability; private
passenger automobile physical damage; commercial automobile no fault
(PIP); other commercial automobile liability; or commercial automobile
physical damage for which the insurer reported premium for the applicable
calendar year.
(f) Annual premium surcharge reports must provide the
following information:
(1) the name and contact information of the individual
responsible for submitting the report;
(2) the five-digit NAIC number of the insurance company;
(3) the name of the insurance company;
(4) for policies with effective dates, or multiyear
policies with anniversary dates, within the calendar year, separately
for each surcharge period in effect during the calendar year, and
within each surcharge period in effect during the calendar year for
all applicable lines of business:
(A) for all policies subject to a premium surcharge:
(i) the total written premium attributable to insured
property located in the catastrophe area; and
(ii) the total written premium attributable to insured
property located outside the catastrophe area; and
(B) the total written premium for policies not subject
to a premium surcharge because the policyholder had no insured property
located in the catastrophe area;
(5) for policies effective in portions of the calendar
year when no surcharge period was in effect, or in the case of multiyear
policies with an anniversary date in portions of the calendar year
when no surcharge was in effect, the total written premium;
(6) the total amount of premium surcharges collected
during the applicable calendar year; and
(7) the total amount of premium surcharges remitted
to the association during the applicable calendar year.
(g) The association must:
(1) review the reports submitted to it under this section
as necessary to determine:
(A) the consistency of contingent surcharges actually
remitted to the association or deposited directly into the premium
surcharge trust fund or funds, with contingent surcharges shown in
the reports as collected and the contingent surcharges shown in the
reports as remitted to the association or deposited directly into
the premium surcharge trust fund or funds; and
(B) the consistency of premiums shown in the reports
as attributable to the catastrophe area with contingent surcharges
shown in the reports as collected by the insurer, given the requirements
regarding the determination of contingent surcharges in this division;
(2) inform the department of any insurer the association
believes may not be in compliance with the rules established under
this division; and
(3) before July 1 on each year reports are required
to be submitted to the association, provide an aggregate summary of
the reports to the department.
|
| Source Note: The provisions of this §5.4190 adopted to be effective February 16, 2011, 36 TexReg 784; amended to be effective June 12, 2014, 39 TexReg 4463; amended to be effective March 9, 2016, 41 TexReg 1697 |
