Texas Department of Insurance Issues Two New Bulletins
10/03/2017
By: Rebecca Moore
Following our initial post available here and subsequent post available here regarding various Texas Department of Insurance bulletins of potential interest to property insurers, the TDI has issued two new bulletins. A link to the main bulletins home page is available here.
Bulletin B-0032-17 reminds insurers that under Insurance Code §38.002, insurers must file updated underwriting guidelines with TDI each time the guidelines change and the following laws related to underwriting are applicable:
- Insurance Code Chapter 544, particularly §§544.303, 544.353, and 544.553;
- Insurance Code §551.113; and
- 28 TAC §21.1007
Bulletin B-0033-17 advises that the Texas Department of Insurance recently issued Commissioner's Order No. 2017-5226, extending the deadline for a policyholder to demand appraisal of a claim arising from the weather-related event, Hurricane Harvey, which occurred August 25, 2017, through August 31, 2017. A policy claimant must timely demand appraisal to resolve disputes about the amount of loss TWIA will pay for an accepted claim or accepted portions of a claim. With the extended deadline, a claimant will have 120 days to demand appraisal after receiving TWIA’s written notice accepting all or part of a claim arising from Hurricane Harvey. Commissioner's Order No. 2017-5226 is available here.
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The content of this article is not intended to serve as an exhaustive review of the laws, statutes or issues related to insurance claims, and it is not intended to provide legal advice. The opinions expressed through this article may not reflect the opinions of the firm, individual attorneys or clients.