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Texas Insurance Code - INS § 1131.857. Individual Premium Rate Increase

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A policy may provide that, during the period of a work stoppage, an individual premium rate may be increased by an amount not to exceed 20 percent of the amount shown in the policy, or a greater percentage as approved by the commissioner, to provide sufficient compensation to the insurer to cover increased:

(1) administrative costs; and

(2) mortality and morbidity.

(b) If a policy provides for a premium rate increase in accordance with this section, the amount of an employee's contribution must be increased by the same percentage.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1131.857. Individual Premium Rate Increase - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1131-857/

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