Sec. 3502.101. RATE FILINGS. (a) Not later than the 15th day before the date a mortgage guaranty insurer uses a rate or supplementary rate information in this state, the insurer must file the rate and supplementary rate information, and any changes to the rate or supplementary rate information, with the department.
(b) The rate filing must include adequate supporting data, including:
(1) information on:
(A) past and prospective loss experience in this state and outside the state;
(B) catastrophe hazards;
(C) expenses of operation; and
(D) a reasonable margin for profit and contingencies;
(2) an explanation of the insurer's interpretation of any statistical data on which the insurer relied;
(3) an explanation and description of the methods used in making the rates; and
(4) certification by an appropriate official of the insurer relating to the appropriateness of the charges, rates, or rating plans based on reasonable assumptions and accompanied by adequate supporting information.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.
Section: Previous 3502.001 3502.002 3502.003 3502.004 3502.051 3502.052 3502.053 3502.101 3502.102 3502.103 3502.104 3502.105 3502.106 3502.107 3502.108 NextLast modified: September 28, 2016