(a) To insure the adequacy and reasonableness of rates the Board may take into consideration
past and prospective experience, within and outside the State, and all other relevant
factors, within and outside the State, gathered from a territory sufficiently broad
to include the varying conditions of the risks involved and the hazards and liabilities
assumed, and over a period sufficiently long to insure that the rates determined therefrom
shall be just, reasonable and adequate, and to that end the Board may consult any
rate making organization or association that may now or hereafter exist.
(b) As a basis for motor vehicle rates under this subchapter, the State Board of Insurance
shall use data from within this State to the extent that the data is credible and
(c) Notwithstanding Subsections (a) and (b) of this article, on and after the effective
date of S.B. No. 14, Acts of the 78th Legislature, Regular Session, 2003, rates for
personal automobile insurance in this state are determined as provided by Article 5.101 of this code, and rates for commercial motor vehicle insurance in this state are
determined as provided by Article 5.13-2 of this code. On and after December 1, 2004, rates for personal automobile insurance and commercial
automobile insurance in this state are determined as provided by Article 5.13-2 of this code.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.