November 16, 2023

In This Issue:

  • TDI Considered Proposals to Update Basic Manual During Rulemaking Hearing Yesterday
  • Texas Legislature: 4th Special Session Continues
  • Underwriters: TDI Stakeholder Meeting on Maintenance Taxes and Examination Assessments Nov. 30
  • FTC Issues Proposed Rule to Regulate Unfair or Deceptive Fee

TDI Considered Proposals to Update Basic Manual During Rulemaking Hearing Yesterday 

TLTA | Nov. 14, 2023
The Texas Department of Insurance held hearing yesterday, Wednesday, Nov. 15, to consider proposals to update, correct and clarify rules and forms in the Basic Manual. A petition from TLTA, as well as additional proposals from TDI and comments from TLTA regarding TLTA’s original petition seeking to amend some items and withdraw others in that petition, were discussed at the hearing. 
 
The rules and endorsement rate adjustments proposed by TLTA were generated by TLTA's Regulatory Committee and approved by TLTA's Board of Directors following many years of work. TLTA's rule package contains several improvements to current procedural rules, a modernization of certain fees, new endorsements, and plain language rewrites.  
 
Yesterday's hearing follows months of work with TDI that began last December with a public meeting and continued with an additional public meeting this summer wherein issues were discussed among TLTA members, stakeholders, and TDI staff, resulting in an improved package.
 
TLTA Regulatory Committee Chair, Roland Love, testified at the hearing, explaining each agenda item and answering questions from TDI Commissioner Cassie Brown. We are grateful for his leadership throughout this process and his outstanding job laying out these proposals for the Commissioner. 

TDI attorney David Muckerheide, Assistant Director of the Property and Casualty Lines Office, then testified, laying out each of the TDI proposals that are part of the rule package. Aaron Day also testified as to the collaborative process and public meetings leading up to the hearing.  

Thereafter, Rick Altizer, CEO of Earnnest testified requesting that the Commissioner publish a bulletin to change P-27 (f) to increase the amount of  “uncertified funds” allowed from the current $1,500 to $9,300 with a 5% percentage increase each year for the next 3 years to get to $10,000. Additionally, he requested that “ACH” be included in the list of payment methods identified in subsection (f). Note there is no agenda item in the rule package addressing P-27, just the testimony presented yesterday.
 
We will continue to keep you updated throughout TDI's process. If you have questions or comments, please submit them to Aaron Day at [email protected] or call at 512.810.8800.
 
New TLTA Comments on TLTA's Original Petition »
TLTA's Original Petition »
TDI Proposal »
TDI Exhibits »
 

Texas Legislature: 4th Special Session Continues

TLTA | Nov. 14, 2023
The 4th Called Session of the 88th Texas Legislature commenced Tuesday, Nov. 7. The call for the 4th special session is currently focused on public education and border security, but the Governor can expand the special session call at any time.
 
At this time, legislative activities in the Capitol are focused on legislation related to border security and vouchers. While we continue to expect the debate on foreign ownership of property to resurface in a special session, its not currently part of the 4th special session call. Likewise, the Colony Ridge issue we tracked during special session #3 is also not on the 4th special session call. 
 
Your TLTA advocacy team continues to monitor all developments at the Capitol in Austin and we'll keep you apprised as the special session progresses. 
 

Underwriters: TDI Stakeholder Meeting on Maintenance Taxes and Examination Assessments Nov. 30

Texas Department of Insurance | Nov. 16, 2023
The Texas Department of Insurance (TDI) will have a virtual stakeholder meeting on projected rates for insurance maintenance taxes and exam assessments at 11 a.m. Central time, November 30, 2023, on Zoom. Visit the TDI website for registration details.

Review TDI's Notice »
Register to Attend the Virtual Meeting »
 

FTC Issues Proposed Rule to Regulate Unfair or Deceptive Fees

ALTA | Nov. 14, 2023
The Federal Trade Commission (FTC) issued a notice of proposed rulemaking on Nov. 9 that would prohibit unfair or deceptive practices relating to fees for goods or services. ALTA has been monitoring this rule and plans to submit a comment letter to the FTC building on previous work related to the Consumer Financial Protection Bureau and FTC initiatives on “junk fees.”
 
Review FTC's Notice in the Federal Register »
Read More from ALTA »