Sec. 1153.107. RATE STANDARD. (a) A rate filed under this subchapter is not excessive unless the rate is unreasonably high for the coverage provided and a reasonable degree of competition does not exist with respect to the classification to which the rate is applicable.
(b) A rate filed under this subchapter is not inadequate unless the rate is insufficient to sustain projected losses and expenses or the rate substantially impairs, or is likely to substantially impair, competition with respect to the sale of the product.
Added by Acts 2003, 78th Leg., ch. 1276, Sec. 10A.304(b), eff. Sept. 1, 2003.
Structure Texas Statutes
Title 7 - Life Insurance and Annuities
Subtitle C - Specialized Coverages
Chapter 1153 - Credit Life Insurance and Credit Accident and Health Insurance
Section 1153.101. Filing of Schedule of Rates
Section 1153.102. Revision of Schedule of Rates
Section 1153.103. Presumptive Premium Rate
Section 1153.104. Appeal of Presumptive Rate
Section 1153.105. Rate Within Certain Percentages of Presumptive Rate
Section 1153.106. Rate Outside Certain Percentages of Presumptive Rate