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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 11. TITLE INSURANCE |
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Subtitle E. THE BUSINESS OF TITLE INSURANCE |
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Chapter 2703. POLICY FORMS AND PREMIUM RATES |
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Subchapter E. PROCEDURES REGARDING PREMIUM RATES, POLICY FORMS, AND OTHER RELATED MATTERS |
Sec. 2703.202. HEARING REQUIRED FOR CHANGE IN PREMIUM RATE
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(a) A premium rate previously fixed by the commissioner may not be changed until after the commissioner holds a public hearing.
(b) The commissioner shall order a public hearing to consider changing a premium rate, including fixing a new premium rate, in response to a written request of:
(1) a title insurance company;
(2) an association composed of at least 50 percent of the number of title insurance agents and title insurance companies licensed or authorized by the department;
(3) an association composed of at least 20 percent of the number of title insurance agents licensed or authorized by the department; or
(4) the office of public insurance counsel.
(c) Except as provided by Subsection (d), a public hearing held under Subsection (a) or under Section 2703.206 shall be conducted by the commissioner as a rulemaking hearing under Subchapter B, Chapter 2001, Government Code.
(d) Notwithstanding Subsection (c), a public hearing held under Subsection (a) or under Section 2703.206 must be conducted by the commissioner as a contested case hearing under Subchapters C through H and Subchapter Z, Chapter 2001, Government Code, at the request of:
(1) a title insurance company;
(2) an association composed of at least 50 percent of the number of title insurance agents and title insurance companies licensed or authorized by the department;
(3) an association composed of at least 20 percent of the number of title insurance agents licensed or authorized by the department; or
(4) the office of public insurance counsel.
(e) Information received or requested by the commissioner as part of an individual audit or examination under Chapters 2602 and 2651 may not be used for rate setting under Subchapter D, Chapter 2703. Nothing in this section prohibits a party from conducting discovery in a ratemaking or other proceeding or producing other information requested by the department, or verifying the data reported under a statistical plan or report promulgated by the commissioner.
(f) Subsections (c) through (e) apply only to a public hearing held on or after January 1, 2009.
(g) If a hearing held under Subsection (a) is not conducted as a contested case hearing, the commissioner shall render a decision and issue a final order not later than the 120th day after the date the commissioner receives a written request under Subsection (b).
(h) If a hearing held under Subsection (a) is conducted as a contested case hearing:
(1) not later than the 30th day after the date the commissioner receives a request for a public hearing under Subsection (b), the commissioner shall issue a notice of call for items to be considered at the hearing;
(2) the commissioner may not require responses to the notice of call before the 60th day after the date the commissioner issues the notice of call;
(3) the commissioner shall issue a notice of public hearing requested under Subsection (d) not later than the 30th day after the date responses to the notice of call are required under Subdivision (2);
(4) the commissioner shall commence the public hearing not earlier than the 120th day after the date the commissioner issues a notice of hearing under Subdivision (3);
(5) the commissioner shall close the public hearing not later than the 150th day after the date the commissioner issues the notice of hearing under Subdivision (3); and
(6) the commissioner shall render a decision and issue a final order not later than the 60th day after the record made in the public hearing is closed under Subdivision (5).
(i) A party's presentation of relevant, admissible oral testimony in a hearing under this section may not be limited.
(j) The commissioner shall consider each matter presented in a hearing under this section and announce in a public hearing all decisions on all matters considered.
(k) A party described by Subsection (b) may petition a district court in Travis County to enter an order requiring the commissioner to comply with the deadlines described by this section if the commissioner fails to meet a requirement in Subsection (g) or (h).
(l) Subject to Subsection (m), if the commissioner fails to comply with the requirements under Subsection (g) or (h)(6), a combination of at least three associations, persons, or entities listed in Subsection (b) may jointly petition a district court of Travis County to adopt a rate based on the record made in the hearing before the commissioner under this section.
(m) If the record made in the hearing before the commissioner is not complete before the request for the court to adopt a premium rate under Subsection (l), the court shall hold an evidentiary hearing to establish a record before adopting the premium rate.
(n) After a petition has been filed under Subsection (l), the commissioner may not issue findings or an order related to the subject matter of the petition until after the date the court enters a final judgment.
(o) A district court may appoint a magistrate to adopt a rate under this section.