28 TAC §5.3301
1. INTRODUCTION. The Texas Department of Insurance proposes repeal of Division 4 and §5.3301, concerning rate filing requirements under Insurance Code Article 5.142 for small and new insurers writing residential property insurance. Repeal of this division and section is necessary because pursuant to §5.3301(i) and Insurance Code Article 5.142 §17, the section expired on December 1, 2004. The Department identified this division and section for repeal as part of the Department's ongoing review of existing rules pursuant to Government Code §2001.039.
2. FISCAL NOTE. J'ne Byckovski, Chief Actuary, Property and Casualty Division, has determined that during the first five years that the proposed repeal is in effect, there will be no fiscal impact on state or local government. There will be no measurable effect on local employment or the local economy as a result of the proposal.
3. PUBLIC BENEFIT/COST NOTE. Ms. Byckovski has also determined that for each year of the first five years that the proposed repeal is in effect, the anticipated public benefit will be the removal of obsolete and potentially confusing provisions from the Texas Administrative Code. There is no anticipated economic cost to persons who are required to comply with the proposed repeal. There is no anticipated difference in cost of compliance between small and large businesses.
4. REQUEST FOR PUBLIC COMMENT. To be considered, written comments on the proposal must be submitted no later than 5:00 p.m. on July 30, 2007 to Gene C. Jarmon, General Counsel and Chief Clerk, Mail Code 113-2A, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104. An additional copy of the comment must be simultaneously submitted to J'ne Byckovski, Chief Actuary, Property and Casualty Division, Mail Code 105-5F, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104. Any request for a public hearing must be submitted separately to the Office of Chief Clerk before the close of the public comment period. If a hearing is held, written and oral comments presented at the hearing will be considered.
5. STATUTORY AUTHORITY. The repeal of Division 4 and §5.3301 is proposed pursuant to Insurance Code §36.001, which provides that the Commissioner of Insurance may adopt any rules necessary and appropriate to implement the powers and duties of the Texas Department of Insurance under the Insurance Code and other laws of this state.
6. CROSS REFERENCE TO STATUTE. No statute is affected by the proposal.
7. TEXT.
DIVISION 4. SMALL INSURER AND NEW INSURER RATE FILING REQUIREMENTS
§5.3301. Rate Filing Requirements Under Article 5.142 for Small and New Insurers Writing Residential Property Insurance.