Texas Register, Volume 30, Number 43, Pages 6973-7094, October 28, 2005 Page: 7,000
6973-7094 p. ; 28 cm.View a full description of this periodical.
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group, life insurance company that is licensed to write workers' com-
pensation, any farm mutual insurance company that filed a property
and casualty annual statement that had gross written premiums in ex-
cess of $5,000,000, any Mexican non-life insurer licensed under any
provision of the Insurance Code other than, or in addition to, Insurance
Code Chapter 984, domestic joint underwriting association, the Texas
Mutual Insurance Company, and the Texas FAIR Plan Association.
(b) Purpose. The section will facilitate the examination of the
statement of actuarial opinion required to be attached to an insurer's
annual statement under Insurance Code 802.002. The Actuarial Opin-
ion Summary will provide information which will assist the depart-
ment in identifying those insurers which require additional analysis to
determine their financial condition.
(c) Actuarial Opinion Summary. By March 15th of each year
a domestic insurer subject to this section shall submit to the depart-
ment an Actuarial Opinion Summary completed in accordance with
applicable National Association of Insurance Commissioners Annual
Statement Instructions, Property and Casualty.
(d) Additional Documents. Upon request of the commis-
sioner:
(1) a domestic insurer shall submit the Actuarial Report
and Workpapers that support its actuarial opinion, and
(2) a foreign insurer shall submit its Actuarial Opinion
Summary and/or Actuarial Report and Workpapers that support its ac-
tuarial opinion.
(e) Submission of Documents. The documents described
in subsections (c) and (d) of this section shall be submitted to
the Actuarial Division, Financial Program, M.C. 302-3A, Texas
Department of Insurance, 333 Guadalupe, P.O. Box 149104, Austin,
Texas 78714-9104, or they may be submitted electronically to
ActuarialDivision@tdi.state.tx.us.
(f) Confidentiality. The Actuarial Opinion Summary, Actu-
arial Report and Workpapers, and any documents, materials or other
information provided by an insurer under subsections (c) or (d) of this
section to the department will be used to examine the company's finan-
cial condition. The documents will be considered information obtained
during the course of an examination under Insurance Code Article 1.15
and treated as confidential.
(g) Applicability. This section is applicable to the actuarial
opinion included with an insurer's 2005 Property and Casualty Annual
Statement and thereafter.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal author-
ity to adopt.
Filed with the Office of the Secretary of State on October 12,
2005.
TRD-200504593
Gene C. Jarmon
General Counsel and Chief Clerk
Texas Department of Insurance
Earliest possible date of adoption: November 27, 2005
For further information, please call: (512) 463-6327
28 TAC 7.68
(Editor's note: The text of the following section proposed for repeal
will not be published. The section may be examined in the offices of theTexas Department of Insurance or in the Texas Register office, Room
245, James Earl Rudder Building, 1019 Brazos Street, Austin.)
The Texas Department of Insurance proposes the repeal
of 7.68, concerning the 1998 annual and 1999 quarterly
statements, other reporting forms, and diskettes or electronic
filings with the NAIC via the Internet. The section is proposed
for repeal to facilitate the proposal of a new 7.68 concerning
2005 annual and quarterly statement blanks, other reporting
forms, electronic data filings with the National Association of
Insurance Commissioners via the internet and instructions to
be used by insurers and certain other entities regulated by the
Texas Department of Insurance when reporting their financial
condition and business operations and activities during the 2005
calendar year. The department is proposing the new 7.68
which appears elsewhere in this issue of the Texas Register.
Betty Patterson, Senior Associate Commissioner, Financial Pro-
gram has determined that, for the first five years the repeal of
the section will be in effect, there will be no fiscal implications for
state or local government as a result of enforcing or administer-
ing the repeal, and there will be no effect on local employment
or local economy as result of the proposal.
Ms. Patterson also has determined that, for each year of the first
five years the repeal of the section will be in effect, the public
benefit anticipated as a result of the repeal will be the elimination
of obsolete regulations. There will be no economic cost to the
general public, or small or micro business or individuals who are
required to comply with the repeal as proposed.
To be considered, written comments on the proposal must be
submitted no later than 5:00 p.m. on November 28, 2005 to Gene
C. Jarmon, General Counsel and Chief Clerk, Mail Code 113-2A,
Texas Department of Insurance, P.O. Box 149104, Austin, Texas
78714-9104. An additional copy of the comments should be
submitted to Betty Patterson, Senior Associate Commissioner,
Financial Program, Mail Code 305-2A, Texas Department of In-
surance, P.O. Box 149099, Austin, Texas 78714-9099. A request
for a public hearing should be submitted separately to the Office
of the Chief Clerk.
The repeal of the section is proposed under Insurance Code
802.001 - 802.003 and 802.051 - 802.056 and 36.001. Sec-
tions 802.001 - 802.003 and 802.051 - 802.056 authorize the
commissioner to make changes in the forms of the annual state-
ments required of insurance companies of any kind, as shall
seem best adapted to elicit a true exhibit of their condition and
methods of transacting business. Section 36.001 provides that
the commissioner may adopt any rules necessary and appropri-
ate to implement the powers and duties of the Texas Department
of Insurance under the Insurance Code and other laws of this
state.
The following articles and sections of the Insurance Code will
be affected by this proposed section: Articles 21.39 and 21.54,
32.041, 802.001 - 802.003, 802.051 - 802.056, 841.255,
842.003, 842.201, 842.202, 843.151, 843.155, 844.001 -
844.005, 844.051 - 844.054, 844.101, 861.254, 861.255,
862.001, 862.003, 882.001, 882.003, 883.002, 883.204,
884.256, 885.401, 885.403 - 885.406, 886.107, 887.009,
887.060, 887.401 - 887.407, 911.001, 911.304, 912.002,
912.201 - 912.203, 912.301, 941.252, 942.201, 961.002,
961.003, 961.052, 961.202, 982.001, 982.002, 982.004,
982.052, 982.101, 982.102, 982.103, 982.104, 982.106,
982.108, 982.110 - 982.112, 982.251 - 982.255, 982.302 -
982.306, 984.153, 984.201, 984.202, 1506.057 and 2551.001.30 TexReg 7000 October 28, 2005 Texas Register
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Texas. Secretary of State. Texas Register, Volume 30, Number 43, Pages 6973-7094, October 28, 2005, periodical, October 28, 2005; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth97316/m1/27/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.