By Duncan H.B. No. 1424
74R4400 DLF-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to certain reports filed by insurers with the National
1-3 Association of Insurance Commissioners.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Article 1.11(b), Insurance Code, is amended to
1-6 read as follows:
1-7 (b) Each domestic, foreign, and alien insurer authorized to
1-8 transact insurance in this state, at the time it files its annual
1-9 statement with the State Board of Insurance, shall file with the
1-10 National Association of Insurance Commissioners a copy of its
1-11 annual statement, along with any changes in substance and form,
1-12 including a requirement that the submission be in computer
1-13 compatible format, or additional filings, if any, as may be
1-14 prescribed by the State Board of Insurance. The information filed
1-15 shall include the signed jurat page and the actuarial
1-16 certification, as required by the state of domicile. Any
1-17 amendments and additions to the annual statement subsequently filed
1-18 with the State Board of Insurance also shall be filed with the
1-19 National Association of Insurance Commissioners. The insurer shall
1-20 bear the expense for preparing and furnishing such annual statement
1-21 and other filings and shall pay any filing fee or similar fee
1-22 charged by <to> the National Association of Insurance Commissioners
1-23 <shall be that of the insurer>. <There shall be no other costs or
1-24 expenses of any kind levied, charged, or assessed against the
2-1 insurer relating to such filings.> The Board may deem foreign
2-2 insurers that are domiciled in a state that has a law substantially
2-3 similar to this section to be in compliance with this section.
2-4 This section is applicable to all companies regulated by the State
2-5 Board of Insurance including domestic and foreign, stock and mutual
2-6 life, health, and accident insurance companies; domestic and
2-7 foreign, stock and mutual, fire and casualty insurance companies;
2-8 Mexican casualty companies; domestic and foreign Lloyd's plan
2-9 insurers; domestic and foreign reciprocal or interinsurance
2-10 exchanges; domestic and foreign fraternal benefit societies;
2-11 domestic and foreign title insurance companies; attorney's title
2-12 insurance companies; stipulated premium insurance companies;
2-13 nonprofit legal service corporations; health maintenance
2-14 organizations; statewide mutual assessment companies; local mutual
2-15 aid associations; local mutual burial associations; exempt
2-16 associations under Article 14.17 of this code; nonprofit hospital,
2-17 medical, or dental service corporations including companies subject
2-18 to Chapter 20 of this code; county mutual insurance companies; and
2-19 farm mutual insurance companies. The Board may exempt any class of
2-20 insurers from the requirements of this section if the Board
2-21 believes the information required by this section will not be
2-22 useful for regulatory purposes. Reports or other information
2-23 communicated to the State Board of Insurance by the National
2-24 Association of Insurance Commissioners from the collection, review,
2-25 analysis, and dissemination of information developed from the
2-26 filing of annual statement convention blanks is considered part of
2-27 the process of examination of insurance companies under Articles
3-1 1.15-1.19 of this code and other provisions of this code, and this
3-2 information is an integral part of those examinations.
3-3 SECTION 2. This Act takes effect September 1, 1995, and
3-4 applies only to a filing made by an insurer with the National
3-5 Association of Insurance Commissioners on or after that date. A
3-6 filing made by an insurer before the effective date of this Act is
3-7 governed by the law in effect immediately before the effective date
3-8 of this Act, and that law is continued in effect for that purpose.
3-9 SECTION 3. The importance of this legislation and the
3-10 crowded condition of the calendars in both houses create an
3-11 emergency and an imperative public necessity that the
3-12 constitutional rule requiring bills to be read on three several
3-13 days in each house be suspended, and this rule is hereby suspended.