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Texas Insurance Code - INS § 1901.056. Absolute Rates Prohibited

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

(a) In this section, “ absolute rates” means rates, rating plans, or rating classifications that are filed under Chapter 2251 or Article 5.13-2 by an insurer or authorized rating organization and that are required to be used, to the exclusion of all others, by each insurer authorized to write policies.

(b) A provision of this chapter, Chapter 2251, or Article 5.13-2 1 relating to the regulation of rates, rating plans, and rating classifications for professional liability insurance for physicians and health care providers does not:

(1) give the commissioner the power to promulgate uniform or absolute rates; or

(2) prevent different insurers or organizations authorized to file rates from filing different rates for risks in a given classification or modified rates for individual risks made in accordance with rating plans.

1 V.T.C.A., Insurance Code art. 5.13-2.
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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1901.056. Absolute Rates Prohibited - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1901-056/

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