Notice is hereby given that the January 1, 2003 workers' compensation classification relativities and other rating values in the Texas Basic Manual of Rules, Classifications and Experience Rating Plan for Workers' Compensation and Employers' Liability Insurance will not be amended effective January 1, 2004.
All insurance companies must either use the January 1, 2003 classification relativities adopted by Commissioner's Order No. 02-1122 or company-specific classification relativities that have been filed with the Texas Department of Insurance (Department).
If a company elects to revise its existing deviations (even if it is for only one class), it will be required to submit a rate filing and the company will have to comply with the instructions for rate changes found in "Filings Made Easy" published by the Department. Such a submission will be considered a rate filing under §3(a) of article 5.55, Texas Insurance Code.
Companies that elect to maintain their existing classification relativities and deviations may do so without submitting a filing at this time.
A company that is not currently writing workers' compensation insurance but plans to begin writing policies must also comply with the instructions for rate filings found in "Filings Made Easy" published by the Department. The rates may either reflect the January 1, 2003 classification relativities or its own filed relativities.
All submissions should be sent to:
Texas Department of Insurance
Property and Casualty Intake Unit (MC 104-3B)
P.O. Box 149104
Austin, TX 78714-9104
Filing requirements are listed in the Filings Made Easy manual at http://www.tdi.state.tx.us/company/rspceasy.html.
For further information or questions in regard to this bulletin, contact the Property and Casualty Actuarial Division at 512-475-3017 or by e-mail at .
Sincerely,
Philip O. Presley
Chief Actuary
Property and Casualty Division