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Senate Bill 1253 |
Senate Author: Averitt |
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Effective: 9-1-07 |
House Sponsor: Hancock |
Previous law required the Texas Department of Insurance (TDI) to visit and examine an insurance carrier annually during the first three years after the carrier's organization or incorporation and at least once every three years thereafter, with certain exceptions. Senate Bill 1253 amends the Insurance Code to require TDI to examine a carrier as frequently as the agency considers necessary and at least once every five years, and requires the commissioner of insurance to adopt rules governing the frequency of the examination of a carrier that has been organized or incorporated for less than five years. In addition, the bill requires a workers' compensation health care network to pay a fee to TDI, in an amount set by and in accordance with rules adopted by the commissioner, for certain expenses incurred in connection with such an examination and for those fees to be deposited in TDI's operating account.