On November 1, 2001, the Commissioner of Insurance (Commissioner), in accordance with the statutory requirements of Article 21.81, Texas Insurance Code, issued Commissioner's Order No. 01-1039 relating to changes in the rates for private passenger and commercial automobile insurance obtained through the Texas Automobile Insurance Plan Association (TAIPA) - the assigned risk plan. The commissioner ordered private passenger TAIPA rates for bodily injury liability coverage to be 82.5% above the voluntary benchmark rates and property damage liability coverage to be 38.6% above the voluntary benchmark rates. The Commissioner also changed rates for private passenger personal injury protection to 217.5% above benchmark, and UM to 175.4% above benchmark. Note that UMBI and UMPD are now at the same percentage above the benchmark. The overall rate change for private passenger auto TAIPA rates is +9.2%. The TAIPA commercial automobile rates are the same as the voluntary automobile benchmark rates.
On November 12, 2001 the Commissioner issued Commissioner's Order No. 01-1062 entitled Order Correcting Commissioner's Order No. 01-1039 Nunc Pro Tunc. Commissioner's Order No. 01-1062 amends Commissioner Order No. 01-1039 by changing the effective date of the rates from January 1, 2002 to December 31, 2001.
The revised rates, premiums, rating factors and instructions (called the "machine letters") for companies utilizing EDP equipment to generate December 31, 2001 TAIPA private passenger and commercial rates are available for downloading at the Department's website: www.tdi.state.tx.us. Look for Commissioner's Bulletin No. B-0048-01 under "Bulletins" in the "Latest News" section of TDI's website home page. Also available for downloading are the new TAIPA private passenger and commercial rate tables (called the "rate bulletins"), similar in format to those that will soon appear in the Texas Automobile Rules and Rating Manual. These are available in Excel and PDF formats. Please note that the voluntary rates included on these pages are the same as were previously released with Bulletin B-0047-01 "Private Passenger and Commercial Automobile Benchmark Rates and Flexibility Bands (Machine Letters and Rate Bulletins)," dated November 9, 2001. The TAIPA rates were simply added to the pages previously distributed.
If you are unable to download the machine letters and rate bulletins, you may request a hard copy by contacting Lisa Garza at 512-475-3017.
Other questions regarding private passenger or commercial automobile should be directed to Tammy Rowland, Property and Casualty Actuarial Section, 512-475-3021.
Sincerely,
Philip O. Presley
Chief Actuary
Property & Casualty
Available for downloading:
TAIPA pages:
Private Passenger Auto Rate Bulletin in EXCEL or PDF
Private Passenger Auto Machine Letter in EXCEL or PDF
Commercial Auto Rate Bulletin in EXCEL or PDF
The contents of this Bulletin are revised by B-0048A-01