Texas Insurance Code - Not Codified - Article 5.04. Experience As Factor
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Art. 5.04. EXPERIENCE AS FACTOR. (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 available.
(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.
Acts 1951, 52nd Leg., ch. 491. Amended by Acts 1953, 53rd Leg., p.
64, ch. 50, Sec. 3.
Amended by Acts 1987, 70th Leg., 1st C.S., ch. 1, Sec. 2.01, eff.
Sept. 2, 1987; Subsec. (c) added by Acts 1991, 72nd Leg., ch. 242,
Sec. 2.05, eff. Sept. 1, 1991; Subsec. (c) amended by Acts 1991,
72nd Leg., 2nd C.S., ch. 12, Sec. 8.06, eff. Jan. 1, 1992; amended
by Acts 1995, 74th Leg., ch. 984, Sec. 5, eff. Sept. 1, 1995;
Subsec. (c) amended by Acts 2003, 78th Leg., ch. 206, Sec. 21.06,
eff. June 11, 2003.
Article: 5.01B 5.01C 5.01-1 5.01-3 5.02 5.03 5.03-1 5.04 5.04-1 5.05 5.06 5.06-1 5.06-2 5.06-3 5.06-4
Last modified: August 11, 2007
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