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Texas Insurance Code - INS § 2054.253. Multitiered Premium Systems

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

(a) Notwithstanding any other provision of this code or another insurance law of this state, the company may establish multitiered premium systems to price workers' compensation insurance policies to:

(1) insureds in the company's competitive programs;  and

(2) insureds to whom policies are offered by the company under Subchapter H.  1

(b) The systems may provide for a higher or lower premium payment by an insured based on the company's evaluation of the underwriting characteristics of the individual risk and the appropriate premium to be charged for the policy coverages.

(c) The systems must be filed in accordance with Subchapter A, Chapter 2053.  2

1  V.T.C.A., Insurance Code § 2054.351 et seq.
2  V.T.C.A., Insurance Code § 2053.001 et seq.
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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2054.253. Multitiered Premium Systems - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2054-253/

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