Tex.
Ins. Code Section 2053.056
Rate Hearings
(a)
The commissioner may conduct a public hearing each biennium to review rates to be charged for workers’ compensation insurance written in this state. A public hearing under this section is not a contested case as defined by Section 2001.003 (Definitions), Government Code.(b)
Not later than the 30th day before the date of a public hearing conducted under Subsection (a), each insurance company subject to this subtitle shall file the insurance company’s rates, supporting information, and supplementary rating information with the commissioner.(c)
The commissioner shall review the information submitted under Subsection (b) to determine the positive or negative impact of the enactment of workers’ compensation reform legislation enacted by the 79th Legislature, Regular Session, 2005, on workers’ compensation rates and premiums. The commissioner may consider other factors in determining whether a change in rates has impacted the premium charged to policyholders.(d)
The commissioner shall implement rules as necessary to mandate rate reductions or to modify the use of individual risk variations if the commissioner determines that the rates or premiums charged by insurance companies do not meet the rating standards as defined in this code.(e)
The commissioner shall adopt rules as necessary to mandate rate or premium reductions by insurance companies for the use of cost-containment strategies that result in savings to the workers’ compensation system, including use of a workers’ compensation health care network health care delivery system, as described by Chapter 1305 (Workers’ Compensation Health Care Networks).
Source:
Section 2053.056 — Rate Hearings, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2053.htm#2053.056 (accessed May 18, 2024).
