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Texas Insurance Code - INS § 2003.001. Fire Loss Information

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

(a) The department shall ascertain as soon as practicable the annual fire loss in this state.

(b) The department shall, in a manner that will aid in determining equitable insurance rates and methods to reduce annual fire loss and insurance rates of this state or subdivisions of this state:

(1) obtain, make, and maintain records regarding the annual fire loss in this state;  and

(2) collect data concerning the annual fire loss as necessary to enable the department to classify:

(A) fire losses in this state;

(B) the causes of those fire losses;

(C) the amount of the premiums collected for fire loss for each class of risk;  and

(D) the amount paid for the fire losses.

(c) The commissioner may designate one or more advisory organizations or other agencies to gather, audit, and compile the fire loss experience of insurers.  The insurers shall bear the costs incurred under this subsection.

(d) To implement this section, the department may:

(1) employ clerical personnel, inspectors, experts, and other assistants;  and

(2) incur other necessary expenses.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2003.001. Fire Loss Information - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2003-001/

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