(a) Not later than 10 days after use, an insurer writing
personal automobile, residential property, or workers' compensation
insurance must file with TDI a comprehensive set of underwriting guidelines
used by the insurer or its agent.
(b) A filing made under subsection (a) of this section
must contain:
(1) a comprehensive set of underwriting guidelines;
(2) a mark-up or redline version of the underwriting
guidelines, clearly indicating any changes in the underwriting guidelines;
(3) for each third-party data set used in underwriting,
the following information:
(A) the name of the data vendor or source;
(B) a description of the data, such as a data dictionary,
that includes the name for each data element and the corresponding
definition;
(C) a description of how the data is used in underwriting;
and
(D) a list of the underwriting guidelines that reflect
use of the data; and
(4) for each third-party model used in underwriting,
the following information:
(A) the name of the model vendor or source;
(B) the model name and version number;
(C) a description of the model;
(D) a description of the model input;
(E) a description of how the model output is used in
underwriting; and
(F) a list of the underwriting guidelines that depend
on the output of the model.
(c) Filings must clearly indicate any changes in the
underwriting guidelines resulting from the change in third-party data
and modeling information. No filing is necessary for a change in third-party
data and modeling information that does not result in a change to
underwriting guidelines.
(d) For purposes of compliance with this section, an
oral or electronic underwriting guideline must be converted to written
form.
(e) An insurer group or group of affiliated insurers
may file one set of underwriting guidelines on behalf of individual
insurers in the group under the requirements of this section if the
group clearly identifies which underwriting guidelines apply to each
insurer within the group.
(f) An insurer that files underwriting guidelines under
this section must submit the filing transmittal information required
in §5.9310 of this title (relating to Property and Casualty Transmittal
Information and General Filing Requirements) with each underwriting
guideline filing.
(g) All filings for underwriting guidelines must relate
to only one line of insurance.
(h) Underwriting guidelines contemplated by Insurance
Code §38.003, concerning Underwriting Guidelines for Other Lines;
Confidentiality, other than workers' compensation insurance, are required
only if requested. Underwriting guidelines submitted in response to
a request under Insurance Code §38.003 must be filed in compliance
with subsections (d), (e), and (f) of this section.
(i) Filings under this division may not be combined
with any other filings submitted under this subchapter.
(j) Information used to classify risks for the purpose
of determining a rate must be filed under Division 6 of this title
(relating to Filings Made Easy--Requirements for Rate and Rule Filings),
even if the information is included in an underwriting guideline filing
under this division.
|
Source Note: The provisions of this §5.9342 adopted to be effective February 10, 2005, 30 TexReg 548; amended to be effective November 16, 2014, 39 TexReg 8694; amended to be effective July 28, 2019, 44 TexReg 3640; amended to be effective January 8, 2024, 49 TexReg 41 |